Why SRS is a bad idea
Last year i was in contact with a trans female that pursued SRS, she had spent years researching this and had finally found a surgeon she was confident in. She even gave special instruction to the surgeons to make sure she got the best result (she mentioned that another trans female didn't do that and it didn't work out too well for her).
She did share her results so i could look at them, she was actually satisfied. When i looked at that however it became very clear that it was nothing like a natural vagina, it didn't look even close to the same.
It's very hard to find pictures of actual good SRS results in terms of eastetics, you might find some but that's extremely rare and it might just be that the picture itself is misleading in these cases. One obvious issue with this is that then even if you have surgery people will still be able to tell you were not born female when you are naked.
Here is a sample of natural vaginas (not cherry picked)
http://www.labialibrary.org.au/photo-gallery/#
Reproductive function
While a neovagina could allow for natural impregnation (if functional wombs and ovaries were added, etc) no current neovagina option would allow for child-birth, they cannot expand enough to support that, not even close.
While SRS doesn't add any female reproductive abilities it will remove valuable male reproductive abilities usually leaving the patient permanently infertile besides any sperm that may or may not have been banked. Just relying on banked sperm is probably not a good idea if you want children. If you keep your testicles you might be able to restore your fertility by temporarily stopping HRT.
Sexual function
SRS does not add much if any sexual function.
Anal sex works just fine and it does not require any dilation or surgery. Thanks to the prostate you will be able to enjoy very powerful orgasms from that and here is a problem, with SRS the neovagina will be created between the anus and the prostate which is very likely to make anal sex less pleasurable.
With SRS you will also lose the ability to put a dick inside someone else which will limit your options when it comes to sexual activities.
By having a penis as a girl you are exotic, if you have SRS you lose the thing that make you stand out compared to cis females you will then have a hard time competing with people born female (who usually are fertile and have more attractive genitals).
What if you have genital dysphoria?
It's not clear to me that having surgery to construct something that doesn't look anything close to a natural vagina would be particularly helpful for that. Sure you can tell yourself "i like they way it looks" but i do not think living in a state of constant delusion is good for you.
Maybe it's just me but i do not like the idea of removing parts of your body because they make you uncomfortable or whatever. Should people with
Body Integrity Identity Disorder cut off their leg/arm?
My personal view is that physical health should come first and that mental health will be a function of you in general living a good life. The issue with how mental health is currently addressed is that short-term gain comes at the price of long-term pain, this is a general issue with
psychiatry.
Study results
If you look at actual studies you will find that it's not surgeries trans people benefit from. Only HRT has a significant positive association with quality of life in
multivariate regression.
The following study did found that the "mental health" metric increased temporarily after SRS only to fall back to the level it was prior to the surgery.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5440516/
As see here there was no statistically significant short-term benefit and no placebo control.
Limitations of the study include incomplete follow-up and the inability to adjust results for clinical factors such as comorbidities, sociodemographic factors, and hormonal treatment.
I tried finding the data regarding the response-rate for the follow-ups but i failed to find that, it may have been intentionally hidden by the study authors. It might be the case that people unhappy with their results just disappeared and that only the ones somewhat satisfied continued to participate.
The study authors did point out that the quality of life will decrease over time also among the general population but that's not a proper control group, we need to compare it to trans females people who did not undergo that surgery.