That is an interesting rabbit hole to go down. A thesis could be written on the subject, before reaching any settled conclusions. Do the referents of said pronoun see the pronoun as an insult or do they invite the use of the pronoun? Was it intended as an insult or a bowing to changing customs and mores? Or could one, by bowing to present custom and mores be delivering the ultimate insult? If they take it as an insult what does that say about them and their understanding of customs and mores? If they don't what does that say about their manhood/womenhood?
Such a study is beyond what I could presently undertake, but such an examination would be necessary before I could answer your question.