True in some ways, not true in a lot more. For one, my "equipment" has an expiration date, still being negotiated due to the practicalities of its replacement procedure.
Beyond that, HRT is a hell of a thing. I would not argue with anybody as to what anatomical bits currently live down there, but they are completely different than they used to be. They work differently, insofar as from a male perspective, they don't really work. The "main event" is about 25% of what it used to be, and their little pals are closer to 1/8th. I don't own a vagina yet, but I don't really have very functional male genitalia either. Peeing standing up would be pretty difficult/messy, if I had any inclination to try. I don't tuck, and I went running in thin leggings today.
There's a whole new realm of experiences though, and I don't miss any of the old functionality.