I don't think this was degrading. It seemed to be in a professional matter. You have to remember this was probably shot like 20 years ago. Most people didn't know to refer to them as transsexuals. They all agreed to go on his show and probably for them to release old pictures of themselves before their transition.
This is what isn't acceptable:
Jerry Springer - Guess what..I'm a man! - YouTube
These scripted scenarios are addictive though. People must be watching if Jerry has been around for decades. I watch him too if I see a show on.