To add to my note, it does not matter to me either way; Bai Mo is Bai Mo, a wonderful character from this story. This is SOLELY just a speculation on my part.
she is technically pegging since she isn't truly in a guys body. didn't we see her buying and wearing special bandages to cover her breasts? just like WY used the wig and in the eyes of others he was suddenly a girl. her dick is probably out of the shop too lol (it really doesn't make any sense anyway, since we learnt from WY that the actual scenes do not have to happen but just appear like they do, so bai mo shouldn't need to actually have intercourse with anyone)
also..being trans seems to go against bai mos character doesn't it? the expectation that she needs to be a tguy just because she's unconventional and not a pinky flower girl goes exactly against her childhood arc of people not accepting her as the girl she is just bc she isn't a walking stereotype
Just a heads up, Bai Mo is not pegging anyone; she has a dick since she's in the body of the novel's original MC. This is not to say that she wouldn't peg someone in her old body tho. ლ(´ڡ`ლ)
Side note. This is just my own thoughts and not canon
Honestly, with how the author writes her, she could end up becoming a trans dude by the end of all this. Who knows ╮(￣▽￣)╭