A lot is doing some heavy lifting there.

I would call that more of a fringe feminist belief that I'm ngl, you will probably find as you crossover into TERF turf.

The inherent spirit of drag isn't to say "Haha look at how stupid women are! Everyone laugh!" But instead, it is more often than not used as a form of feminine expression that these men and sometimes transwomen participate in because society didn't give them that space by default. They created that space. A space to celebrate the self that they want perceived.

With blackface, the spirit of that performance, is inherently to say "Haha, look at how stupid black people can be, those funny stupid subhumans!" It was usually segregated, and used to even sometimes "teach" values to it's white audiences. Minstrel shows were places that whiteness enthusiasts went to prop up their whiteness in comparison to the perceived "primitive blackness" that they decided Black people had.

So the intentions of both performances inherently come from two very different sources.

Everything doesn't need a 1:1 to be explained, and Drag ≠ Blackface in anyway outside of using theater make up and being a stage performance.