I don't really think homosexual people gets offended by it anymore, i know for sure that soxey dont. And i would count it in as a insult simply because when i say it to somebody it dont mean it as a insult but a easier explanation of what type of gender they get attracted too. But it all up to what you mean when you say it each every induvidual.
But again its mostly used as a homophobic term and im pretty sure he didnt mean it in any good way.
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