By embracing it, he is challenging it. Obviously this is all open to interpretation so I'm not speaking of his own motivation, but if a man is packaging himself as a commodified woman, what does that say about the concept of "commodified woman"? That it's less about 'woman' and more about 'commodified'.
I agree that it was meant to be provocative. I have no problems with people being provocative. As a topic of discussion on what was provoked, however, that's dependent on the viewer's interpretation, which I'm happy to discuss.
I don't think this is a force of social.change that will fight injustice. But I'm still enjoying the concept of a female pop star who was born male. I understand your comparisons to sideshow circuses, believe me, but it still opens a dialogue. Even if I can't save the sex trafficked women of the world, I can still talk about the representation of the feminine ideal in pop culture. I don't think the value of that discussion should be nullified just because it's irrelevant to something entirely different.