I purchased an epilator specifically for doing brazilian hair removal, partially because I have been wanting to for quite a while now, and because of the horrendous "blood clots" in the hair after the birth of my first DD. I am 22 weeks PG and have used it 3 times. The first time hurt, but the others didn't (except once, I didn't finish the job because it was very sensitive). With hormone fluctuations, I am sometimes extremely sensitive, and other times not.
I think if you start it early (If you want to be hairless for the birth) you will have an easier time of it, rather than getting the first one done right before 40 weeks.
I also do not think removing hair on your own determinism has anything to do with anti-feminism, or setting women back from fighting for their right not to be shaven during birth. I think do what feels good to you, for yourself.