It was a bit of a fad with super gay millenials for awhile. I've never cared when it's in the context of an adult party but the exhibitionists types always want to do it in public. Naturally the culture of "can't say anything against the gays you homophobe" meant nobody told these people, hey you're going to start getting loads of backlash. When the backlash happened they started to double down. It turned into a virtue signalling style thing for libs to pwn the right. Pedophiles naturally come to whatever grants them close access to children and the current climate where you can't call out inappropriate behavior without being shunned essentially gives them a carte blanche to do whatever they want.

It won't last forever. It only works as the majority of drag supporters are unaware of the pedophile element. They'll push too far as they always do get suppressed and go into obscurity for ten years or so until everyone forgets about it, same as with Nambla.