Most of the theories include some twisted interpretation of “Let It Go”, which is an objectivist song, not a gay song.
I viewed “let it go” as a huge weight being lifted of of Elsie from the responsibility of having to look out from her sister not being needed any more, only she later learns that by “Letting go” she has abandoned her responsibility towards her kingdom and she had to go back to take responsibility for what damage her powers caused by confronting them rather than running from them as she had by locking herself away for so many years.
My favorite Disney “Let it Go” song, (Yes, there is more than one) is from the movie, The Robinsons. It is about a kid who drew the short straw in life and decides to just let it go and live his life the best way he can.