Overall, estrogen is helpful to libido and sexual desire. Oral (systemic) estrogen can have the unintended effect of decreasing testosterone, which is linked to libido in women as well as men. The reason is complicated, but has to do with liver metabolism and a binding protein that reduces circulating testosterone.
The approach I take with patients is to use non-oral, transdermal (systemic) estrogen, which bypasses the liver and therefore doesn't affect testosterone levels. I've had patients who couldn't experience orgasm on oral estrogen but could with non-oral estrogen.
And for some women, I do consider adding testosterone. There isn't a product for women, so I use a very low level of male testosterone "off-label" and then monitor blood levels during use. Sometimes, as an alternative, Wellbutrin (buproprion), an anti-depressant, helps restore libido by affecting the neurotransmitter dopamine.
I'm afraid we women are complicated! There are, though, a number of options to experiment with until you've achieved the sex life that makes you happy.