There's no way there the same. The ONLY possible way is if the women are playing talent as tough as the men. Women usually play other women and its easier to get a higher FR.
Fargo's formula doesn't know who the men and women are, it just sees people playing people.
If your argument is just that women aren't usually playing the players with the really high Fargo ratings, I would point out that most men aren't either.
Fargo essentially works like this. There is a guy Adam, who we know through lots of matches between them is twice as good as Bob. And we know through many matches between them that Bob is twice as good as Chris.
Now there is this other guy, David, who we have never seen play, but we know he has never played Adam or Chris. We also know that he has played lots of matches against Bob and plays dead even with him. Even though David has never played Adam or Chris, we can now infer, fairly accurately, that Adam is about twice as good as David, and that David is about twice as good as Chris, same as Bob since he and Bob are even. These are the same kinds of assessments we are making every day in the pool room, or at least anybody who gambles is doing that constantly, Fargo just does it so much more extensively and accurately and with so much more information at its disposal.
Instead of relying on a singular link like above, which is still reasonably accurate, Fargo is comparing you to everybody you have ever played, and then comparing all those people to everybody they have ever played, and so on, so there are ultimately many links between most players. This allows you to gauge a person's rating fairly accurately, even against levels of players they have never played against, because you know how they did against everybody they have played against, and how all those people did against everybody they have ever played against, and so on.