Oh wowzers this one has caused a lot of heated discussion.
Is it homo* or transphobic. Hmm. I am trans myself but like, idk, maybe a little? But to me it's more in the way a lot of under-baked comedy tends to be as opposed to necessarily being indicative of anything the author has thought about deeply. Which is a problem in its own way you could say, certainly. I think there's a distinction between that and serious malice, though?
That's just my opinion, of course. Some people are more or less sensitive to these things and that's just the nature of the human experience being so broad.