This is an incredibly subjective, and honestly depending on your perspective, a very loaded subject as well. People find physical attraction in all sorts of things.
I think that judging from general societal standards of beauty, androgyny can be considered attractive if the person fits into those standards, but androgyny by itself is unlikely to be thought of as attractive. If a conventionally unattractive cis woman has some physical traits that make them somewhat resemble a conventionally unattractive cis man, to the point where they resemble a bit of both at the same time, they're unlikely to get any additional sexy points for it, for most people; like for the general audience lol. No matter how one person presents, they'll still need to be conventionally attractive either way, for better or worse. Mostly worse.
Keep in mind, that's conventional standards. Even if someone is what most people would consider conventionally unattractive, there's still a lot of things they can do to elevate their physical appearance past that. Contrary to popular belief, it's actually extremely hard to not attract someone else. It's just mostly people have an over-inflated sense of self-worth and only consider their attraction successful if they're attracting someone of a specific "level", while ignoring everyone else who would gladly use your ass as a mask anyday.
With that said, I also don't think it needs to be. The last thing I think people want is to be objectified, and this notion that your identity can be fetishized by itself is frankly a bit weird??
All it does is remind me of all the lesbian characters in anime, drawn and written exclusively by men, presented almost exclusively from a male gaze perspective, and designed specifically to fetishize lesbianism with the edgy provocative camera angles and systematic over-romanticization of a lesbian relationship -- and then someone comes along and goes, "wow this is so progressive". I mean, it isn't. Your value should not be tied to how well you make straight men's PP hard, and if that's the only measure by which your identity is allowed to be exposed publicly in media then that doesn't even qualify as a conditional victory.
It's a tiny bit disgusting, and I think we'd do well to make an active effort to separate the concept of attractiveness or beauty from identity itself. This isn't a dig at OP by the way! I think most people do that without even realizing they're doing it, I'm just saying there's ways to mitigate some of the distasteful, offensive, if not outright harmful side-effects of that kind of thinking.