Based on one song, you found " ... the show more for a drag show or a gay bar"? It's one song. I don't remember there being a drag show element in this show. And I thought the opening number was kind of classic Broadway style.
I loved A Strange Loop, with only a quibble or two, and not the ones you mention. It's someone's story (the playwright), their truth. Some of it is very difficult to watch, because sometimes life is not pretty. I'm very happy Michael R. Jackson has succeeded, and I look forward to what he writes next. I doubt writing this was easy, but I'm glad he did.