On the other hand, frankly, I'm curious to see what The Rocky Horror Picture Show would be like if you switched both Dr. Frank Furter & Rocky to women.
I actually performed in a fully realized stage production of Rocky where Frank, Riff Raff, and Eddie where played by girls. It worked surprisingly well.
Making that change with Eddie probably wouldn't make any difference because Meatloaf already kinda looks like a real ugly, butch lesbian anyway. Riff-Raff isn't so overly sexualized, so it wouldn't really matter. But if you make Frank a woman without doing the same for Rocky, then you take the gayest character in the history of musical theater and turn it straight. (But then, if you turn Rocky into a woman, do you also switch who Brad & Janet end up sleeping with?)
It can still be a queer relationship depending on how the two relate to each other. As with Brad having sex with the female Frank, that was still a pretty queer moment for Brad.