I'll split hairs with you. The examples you give for being fired for being arrested ARE NOT valid. You are innocent until proven guility right? Now if you are convicted of those offenses, then a company may have reason for termination.
So a company can fire a guy if he likes hunting in your opinion. So it's okay to fire a drag queen in your opinion as well.
The standards of our criminal justice system have nothing to do with whether a private company can fire an employee for actions outside of work, absent contract language.
If your shoes are a color I don't like, in most states, I can fire you. I might have to prove why I fired you in court. But your assertion that a company couldn't fire someone for being arrested prior to their conviction is just wrong legally.
If a company wants to fire someone for being a drag queen, in most states, they have the right to do that. They might get sued, and they might have to prove that the person wasn't fired for being a member of a protected class (and gender is a protected class so this would be tricky), but, again, in most states, that's perfectly legal.
That company would likely face significant backlash, like a company who fired someone for loving to hunt. But that has nothing to do with the legality of the termination.