Went ahead and bought Blue Estate and beat the first level. I can actually really recommend it for the price. Really surprisingly enjoyable and amazingly intuitive controls - maybe better than most move games i've played. It's good. It's surprisingly easy to get headshots, the scoring system is fun, the camera is far less jerky than the RE rail shooters, and they did a very good job at allowing you to prioritize targets by knowing which is going to shoot which player in what order. For 2.59, it's worth it for a proof of concept for PS4 rail shooters alone.
I don't think it's fair to call the joke transphobic. The narrator is shown to be something of a neckbearded failure detective and not really supposed to be a likable guy, and is NOT the main character. The trans person in question is a stripper at least(Apple Adams, she appears on a poster), and probably a sex worker - as well as the main characters exgirlfriend. I can't speak for the narrator's intention or the trans person's role in future chapters if any, but calling the game transphobic over that line is a stretch. I think it's completely acceptable to allow transphobic characters in video games when they're not shown to be particularly good people anyway, and another character, in this case who you play as, had dated one.
Not that the game doesn't constantly hang for the low hanging fruit. It's definitely got lowbrow humor, and the first level is an asian brothel/stripclub. I definitely don't recommend it to those easily offended, and while the game isn't exactly funny, I personally think it's mostly harmless, and doesn't have malicious intent.