People do highly irrational things all the time.

What do you think is going on with trans people?

Probably a combination of things. A lot of MtoF's are cases of autogynophilia. Some are men who realized that by putting on a dress they transform from yet another white male CEO to a twofer minority CEO. Now that some municipalities are passing laws requiring bathrooms to be based on self-identified "gender", I predict creepy guys suddenly claiming to be trans-women as an excuse to hang out in women's bathrooms.

A few articles on by Steve Sailer on some of what else may be going on here and here.

Many of them spend considerable amounts of money and effort to change their genders.

What do you think is going on with this guy?