Absolutely, because drag is inherently, culturally queer. It’s like putting on a Freddy Mercury costume as a straight cis dude. Even if you yourself aren’t a part of the LGBT, the act itself is queer.

(usually a man?)

Often yes, but not always. Women occasionally dress as drag queens. The whole idea is to be absurdist, taking femininity to the extreme, being flamboyant, and gay as fuck.