The Fable of the Mysterious Hat (1923)

Based on the provided information, 'The Fable of the Mysterious Hat' does not feature any identifiable LGBTQ+ characters or themes. Consequently, the film's net impact on LGBTQ+ portrayal is rated as N/A.

The movie does not contain any action or adventure elements.

The film "The Fable of the Mysterious Hat" (1923) is presented without any specified source material, prior adaptations, or historical context. Therefore, there is no established baseline for character genders to determine if a gender swap has occurred.

The film is from 1923, and there is no indication it is an adaptation of source material with pre-established characters whose race was canonically or widely known. Therefore, the criteria for a race swap cannot be met.