Do all men enjoy shemale porn?

I’m leaving out of my answer the role of mtf transgender performers in the transaction—on which see Do real transsexuals and “shemale porn” have nothing in common?, and the transactionality, on which see Is it wrong of me to enjoy “shemale” porn? I know it’s degrading and fetishizing, but what can I do about the fact that I like it?

Uncontroversially, I trust: some cis het men enjoy mtf transgender porn, and some cis het men are repulsed by it.

And that’s spelling out stuff your question didn’t, OP. I don’t know what the stats are on cis gay men enjoying mtf transgender porn. Or for that matter transgender people enjoying it. (Then again, I don’t have the stats on cis het men; I trust someone does, at Pornhub if nowhere else.)

That’s not really the interesting question, and I surmise not the question OP is actually getting at. The question is more, what kind of cis het men enjoy mtf transgender porn—and, more interesting still: what does that tell us about their construction of heterosexuality, and femininity?

Bear in mind that the performers in TS porn are a subset of transgender performances of sexual identity, which themselves are a subset of queer sexual identities.

• TS porn involves women who have transitioned mtf, but almost never involves them having gender-affirming “bottom surgery” (I can think of only one performer, and she was already established).
• TS porn involves women who for the most part embrace the social characteristics of femininity (long hair, breasts, makeup): they are not drag performers, who identify as men and satirise the construct, or genderfluid people, whose performance of sexual identity is deliberately ambiguous.
• TS porn involves transwomen performing solo, with cismen or transwomen, much more than it involves them performing with ciswomen.

What kind of cis het men like TS porn?

Men who are still, at some level, het (or bi). They are attracted to performances of femininity. To be blunt, they are much more comfortable with someone who looks like a women performing fellatio or receiving anal sex, than they would be with a macho bearded man doing so.

There is a societal and a narrowly biological understanding of femininity from the cis het perspective. Viewers of TS porn may be confronted to realise that their construct is broader than just narrowly biological. (Those whose construct isn’t will be repulsed by TS porn, and won’t consume it further.) Of course, porn is always about kink, and that’s part of the kink. The kink clearly exists. (It explains where there are almost no “post-op” performers.) But the kink doesn’t do as much as you might think to undermine heterosexuality.

Hence complaints about TS porn adhering to a heteronormative construct of femininity or attractiveness. Hence why there are few performers who don’t look overtly feminine (though non-zero). Hence, if you think about it, why there are relatively few scenes involving mtf women and cis women.

Of course, mtf women are also shows as tops, both of transwomen and of cis men. It’d be interesting to see whether as many cis het men are OK with those depictions: they pose a bit more of a challenge to heteronormativity. But then again, so does pegging.

Elliott Mason brings up the question Does being attracted to transgender women who have penises, or porn involving them, mean a man is gay? This is a rich source of information, in some part because it has been overenthusastically merged.