Drag-Queen Tampon Ad Pulled for Offending Transgendered

Tampon maker Libra has pulled one of its ads from New Zealand television in response to complaints that it ridiculed the country's transgender community. The ad features a blonde woman and a drag queen competing to see who can be the most girly in a public bathroom, with the girl winning after pulling a tampon out of her purse. The offending implication, apparently, is that transgendered women are not real because they don't menstruate. I feel like drag queens are more the butt of this ad's joke than the transgendered are, but there's a huge knot of privilege and identity at the center of this issue that I don't feel capable of untying.