But isn't it kind of the true? The F-word more or less as only recently been getting a lot of backlash. The overuse off it basically made it the equivalent of other curse words like fuck, bitch and slut where as the n-word still had the sting as many used it only to go after black person where as the f-word in many cases is not directly used to attack the sexuality of the person but rather to be put down like bitch, slut, motherfucker etc.
No, it's not really true
Gay/faggot etc is generally used against other men to emasculate them. It's similar to calling someone a pussy - that's an insult because women are the "weaker sex." Calling a man gay is similar, it feminizes and weakens him.
That's why using a sniper rifle in an FPS is "faggot shit" - it's a weak, "feminine" way to fight. Fag is nearly always used as way to make another man less manly and is not generic at all, it's intimately tied to sexuality, the perception that gay men are lesser men or more womanly, etc. That's part of the reason it's so popular an insult in sports, for frat/bro dudes and for 14 year old kids going through puberty.
I think if you pay attention to how gay insults are used more often than not it's not in generic fashion at all.
Think of it this way: "piece of shit" is generic. You can call anyone or anything a piece of shit.
Would you call a woman a fag? Probably not. Were it truly generic you would be able to, but that has a very odd ring to it. Calling anything or anyone other than a man a fag sounds strange.