The point is that any time any group is demonized in hateful terms and imagery, whether it is targeting Republicans or Democrats/liberals or gays or any religious or ethnic/racial group, or Tea Party, special interest group, etc., it introduces not only a huge lie but hate speech into the public discourse. It is hate speech when an entire group is so characterized. Unfortunately, in our bizarre and selective politically correct environment these days, only certain groups are accused of 'hate speech' while everybody else are only excercising their First Amendment rights.
Until we start condemning this kind of hatefulness on the party of EVERYBODY, and not just those deemed politically incorrect, there is no hope of civil discourse or understanding to be had. It feed the 'we are good and you are bad' divisions and exacerbates problems rather than looking for win-win solutions for all.
The gay community should be ashamed and chagrined and be speaking out against that banner en masse. Otherwise they risk setting themselves apart as petty, narrow minded, hateful people. Or the question could be, why should I be sympathetic to their cause when they hold such a low opinion of me?