I personnaly put homophobia and racism on the same level, and I despise them. They're the fruits of the same ignorance and middle-aged prejudices. But, I'm not shocked by someone saying "nigger" or "nigga" or calling someone "a fag" on the internet because they lost their original meaning through time [well it depends how it's used of course, someone being obviously racist or homophobic won't use those words with the same intention/context].
Languages evolve and minds evolve with it. We're at some point we can call a white dude "nigga", because yes, even white dudes listen to gangsta rap ; and, in people's mind, homosexual dudes and straight dudes are equally prone to be called "fag". That doesn't make them racist nor homophobic. Hell even "nigger" and "nigga", which are supposed to be the same word, aren't used in the same context at all.
That doesn't justify the first meaning of those words and their idelogy, but people got to realize things change, and sometimes it's not a bad thing to forget the original meaning of a word to make it a thing of the past that we can freely laugh about.
Most insults, if not all, had different meaning at first.
bostaff : Thanks for the Louis C.K.'s quote, he's the man xD