If the people I have talked to in my practice -- both those who identify as gender minority and those who identify as cisgender -- are any indication, we will likely conclude that gender identity is as much on a scale as is sexual orientation.
I know there are plenty of people who, looking back at their younger selves, have had occasion to think, "Man, what you don't know could fill a book." However, I'm unique in that the book filled with the things I don't know is an actual book.
As I was coming out as trans*, every corner of cyberspace I turned to said I had to feel like a "boy stuck in a girl's body." Every documentary and TV show taught me that I had to harbor an intense hatred for my body being wrong. This is the normative transgender narrative, and I don't fit it.
Those who saw Ed Shultz's segment and took it as accurate and representative of the reality of transgender lives would likely be led to believe that all transgender people are gay, that being transgender is just another form of homosexuality.