I'm glad somebody posted something this blunt so that we can cut through to the point.
No, it isn't a libertarian argument, because this isn't under the principle of access to realize individual freedoms, it is an argument that recognizes that any regulation for access of trans people to the care they deserve is indeed a vector for violence from a system that regularly targets them for genocide. To reduce this to an argument for open access to cigarettes or opiates because "the government can't tell me what to do" ignores the reality that we are talking about a vulnerable group of people and their access to necessities.
Yes, it would be ridiculous to apply this logic to other medications or drugs, because it is exceptionally rare for that regulation to be directly linked to genocidal policy.
I've seen this point come up many times, and it is incredibly dangerous exactly because it makes intuitive sense to people who think morality is universal instead of relational, which most of us are socialized to believe.