I think what Natalie did worst in her Beauty video goes something like this: At the beginning of the video, she acknowledges what I'll call Explanation A. For FFS, Explanation A is that we get it to alleviate gender dysphoria/undo testosterone damage/make it easier and safer for her to move through the world as a woman. She says this is what she's "supposed" to say, which, when framed this way, makes the audience think it's inauthentic. Superficial. Simple. Wrong.
And of course, she gives her little caveat "yeah that's definitely part of it, buuuuuuuut-" and then goes on to give Explanation B. That "but" completely changes the overall message of the video, what people will take away from it.
What Explanation B actually is doesn't really matter so much. The problem is that she's making her audience think that Explanation A is actually invalid, incorrect, like the people who give you this eplanation are actually trying to pull a fast one on you, and she's telling you what's really going on. She's "giving you the real scoop."
This is selling out trans people. This is making cis people think they know issues of transness better than trans people themselves. This is spreading misleading, harmful, and outright false information about trans people. I don't even know if she's doing it on purpose, or if she really thinks she's furthering trans discourse in a positive way. But she's doing it nonetheless.

She's done it a lot in (arguably) minor ways, what with constantly calling herself a tranny and a faggot and then saying "how dare you say things that are entirely true." She did this by doing horseshoe theory with incels and trans women, she did it with her portrayal of Tabby in The Aesthetic, and she's done it with Beauty.
There were a lot of people who watched The Aesthetic and said that it should not be viewed by cis people because it's just going to be used against us. And you know what? I think I agree. I don't think the "beauty" video should be seen by cis people, not because the message at the end of the video is bad, or that it isn't good to theorize and contemplate these issues. I think it shouldn't be seen by cis people because it's going to further calcify this idea that trans people are lying or mistaken or delusional or whatever. This is part of the poison of her channel: it appeals to people who aren't outright transphobes, to people who genuinely want to know what's going on with us and the best way to support us. But in trying to come up with a spicy take to give in every video, a take that you won't hear from other trans people, she's making content that encourages subtle transphobia. Woke transphobia.

I don't think I'm going to be watching her videos anymore.