You've posed an interesting question. I don't think there's a simple, one size fits all answer, though.
Speaking only for myself, I've been a f vs f, catfight fan for as long as I can remember, over 60 years. And I'm a straight male. But a few years ago, I found myself being aroused by m to f transgendered women. The thought of two attractive transgendered women engaged in a body to body, breast to breast, and yes, cock to cock, hair pulling catfight is extremely arousing. I can't explain why, it is. I don't get anything out of seeing two men wrestle, but transgendered women fighting is definitely a turn on.
I've been an fcf member for several years now, and I've seen just about everything I could imagine, and a few things I never dreamed of, being brought up in this forum. Some of the interests I don't get. And I'm sure some of the things I find arousing would be a turn off to others. But I think it's a pretty big tent we're all under, and I think there's room for just about everyone.
Just my 2 cents worth, folks.