Of course it is a cult. Cults do not exist to lead their members to either free-thinking or greater individual freedom. The entire concept of transgenderism is based on the ideas of one man who was attempting to come up with a way to "salvage" a botched circumcision. Thus, the entire concept is based on human mutilation. Another feature of cults is that people do not join them and remain in them of their own free will. Cult leaders rely on coercion and deception and often threat of violence to keep their members around and behaving the way they want them to. Cults also depend on twisting truths, gaslighting and base their entire ideologies on falsehoods obvious only to those not under the cult leader's direct influence.
The other thing about transgenderism is no sane or emotionally stable individual would choose it as a viable life path. Without heavy doses of propaganda, coercion, deception and even intimidation, transgender people would not exist. Most everyone living on planet earth has sought an "out" or escape from their lives at some point. Cults offer such an "out" as does transgenderism, according to its false prophets.
Finally, transgenderism as a choice relies on extensive brainwashing and indoctrination. I attended high school in the late 1980's/early 90's. Back then there were no transgender students nor had any single one of my two hundred and fifty fellow classmates ever heard of transgenderism. See, back then there were no transgender cult leaders hidden among the teaching staff of our school or lurking in the guidance counselor's or principal's offices.