There is - I actually had the chance to ask Drudge about it on a C-Span appearance a few years ago. He said one day he clicked on a link to see a message/thread (not sure which) about "Clinton's Ni__er Baby", at which point he pulled the FR link from his site because of an obvious racial slur. He also complained that he feels he can't pull links anymore because people pitch a fit when he does.
Like you, I discovered FR through the Drudge link in the mid-to-late 90s. Obviously, anyone posting such nonsense today would be zotted immediately, so I wish Matt would reconsider.
I think it was really a problem with some of his "gay" friends who told him the site was full of Nazis or something.
That was right in that period before "$p0+...." citations got automatically deleted ~ there have been some noteworthy advances in keeping sites clean of garbage since those days.
I've been surfing FR every time I've been on the internet since 1998. I surf FR more than any other site by far. I have never seen a thread title at all like what you quote there. I have heard of ridiculous nonsense being posted but it is always pulled immediately. Such posts are likely just lame leftists attempting sabotage and even FR's worst detractors know that such posts are not and have never been allowed here. Matt Drudge's reason for pulling the link to FR is not what he is quoted as saying here.