I absolutely h8 it. It's usually some flabby homo who's living in the big city for the first time and has only come out to his one faghag friend (who he's also starting a podcast with exploring niche topics such as living in the big city from the non-binary genderqueer perspective!)
It's also usually it's the laziest effort of both styles. A creep stache with lots of scruff and red lips and poorly applied mascara. But that's not the point, because to they/them these style elements represent gender symbols, and their face is a billboard saying "Then there was me."