My wife, who is trans, disagrees, and says that because the character has no apparent gender identity or dysphoria, it's not a trans narrative, either, but a simple transformation story. Other than a (magical) change of body and social role, the story has no elements in common with trans experience, and so can't really be called a trans narrative, either. She also says she's seen that phrasing debated before, with trans people taking either side, but predominantly the no-it-isn't side. She's not particularly offended or upset by the interpretation, she just doesn't agree.