Drag and Burlesque -- Two Sides of the Same Coin?

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Drag Queening and Neo-Burlesque: Ways of playing hyper-femme and overt/active feminine sexuality. Tend to involve humour. Does that make it more transgressive or less so?
How do they relate/intersect, how do they differ (beyond who's wearing the sparkly costumes, I mean).

People in the Know?

Discuss?