Yes it is. Note the parenthetical.
>(To avoid perverse incentives, though, the HRT requirement is critical. Otherwise you have trans women having to choose between being more competitive and receiving necessary medical care.)
This is incoherent as an argument. It conditions the category on checking off boxes on a medical treatment list. I hope it's not necessary to explain why this is absurd.
I read the statement as follows:
There is a category called woman, it’s defined by something that’s identify related.
Sports should only be segregated by this category, except that to remove perverse incentives it’s reasonable to require hrt
I’m unclear on what you find absurd about this?