In our play community there is a player (won't be named) that rages all the time. He always says that card is too broken / your play was op / this card is stupid / format is broken / etc. It doesn't really matter what word the person uses, that negative attitude and poor sportsmanship can negatively affect the morale and attitude of players around them. Just because a player isn't using the term gay to refer to someone who is similarly aligned doesn't mean it should be tolerated. He could be saying “that card is cheeseballs” but with the same negative attitude / poor sportsmanship, and the effect would be the same. And of course, the people who take offense aren't always transparent about it :)

Depending on the player, often times responding with a simple “Hey, not cool” can be all you have to say to change behavior, if you're in a situation where the community hasn't developed a position like the one William described. You don't have to go fire and brimstone to effect change, and sometimes if you don't need to people will respond more positively.

I've handled several situations at Regular REL where somebody will let whatever perjorative slip, and when I responded with a sharp look and “Hey, not cool” I've actually had players come up to me later, apologize, and then be more aware of their own behavior later on. I even saw one individual I spoke with like that mimic my actions, and help correct the behavior of another player.