What? If I was a homosexual and someone referred to me as one, I would presumably be less offended then I am now if that happens. I'm straight. I don't enjoy being called a "gay". If I was gay, I doubt I'd mind as much.
If it was actually a slur, f*ggot for example, that might change things.
However, that's not the case here, nor is it what we're discussing. We're discussing a player making a rude and uncalled for parting remark - not being graceful in victory(or defeat, I don't know which). Against the Summoner's Code? Technically. Bad enough to be punished, lacking anything else offensive? Probably not. Not enough that I'd trust the Majority to vote with me if I chose to Punish, which I assume is why alot of judges erred on the safe side and called it a Pardon.