I should automatically give this a third star, for being a book on a subject that has not yet received that much attention from scholars. Honestly, though, I found it imprecise and meandering--granted, it's dealing with concepts of genre, which, as the book points out many times, are horribly hard to pin down. But I kept losing track of transitions in the discussion, and I don't think that was my fault. I'd wonder halfway through a paragraph whether Betz was still discussing fantasy, in the sense of a specific genre, or fantasy as a super-genre encompassing SF/fantasy/gothic writing, or whether she was talking about speculative fiction now as opposed to hard SF. Several supporting quotations are repeated over the course of the text, adding to the sense of messiness and lack of trimming, and whoever edited it left in a lot of verb tense disagreements and other glaring grammar errors. They also left in one jarring content error--China Mieville is not a member of the second wave of female fantasy writers (unless I'm making inaccurate assumptions about his gender based on publicized materials).
On the plus side, the author engages with non-iconic genre texts, many of them published within the last few years by lesbian/feminist presses, instead of with more widely-known mainstream books by or featuring lesbians. That's not done often, I don't think. And the book has enough substance that it left me considering the purpose of fiction in structuring and reassuring readers of social roles and of the categories that make people feel part of a social structure. I've thought about that before, but reading about it helped me bring more thoughts to the surface.