I remember a similiar experience in Chicago. Back in the early 1970’s, my friend had an apartment in the New Town area. We were invited to come down and witness a new event called the Gay Pride parade. Like you say, it was a real circus. We were young and stood with our mouths open in amazement watching (as you say, in wonder, disgust and amusement) the “sexually liberated” parade down the street doing things out in the open that we had never seen before. The event has grown every year. Now it is shown on television and the politicians all participate in the event. They have toned it down a bit since the early days, but the fact that is has become “mainstream” says volumes about where we have gone as a culture.
Many years ago, gay acquaintances of mine moved out of SF. About a year later, they were buying a home in their new location. And they were getting a mortgage deal which was freakin' unbelievable from gay realtors. No down, lowest interest rate, nowhere else could come close to matching. There were strings attached, tho. They had to go to SF each year and march in the big gay pride parade, plus do local activist stuff for 3 years. That was the deal.
Over the next 5, I began snooping around. Turns out, this kinda of "real estate" (etc) transaction was going on for lots of gay people. Then, I began to understand a lot more about the fine rich, antiquish or modern lifestyles of the gay and well connected but getting "preferences" under various laws and regulations.
It wasn't that they were superior horse traders, made zillions, or were snappier designers.
My burning question came years later: "Who really wanted Straight Martha Stewart Threatened and Punished and under what ruse?".
Maybe one day I'll get to learn more about that.