Well, it depends who says it, and why. It would be like Jews ironically calling themselves “kikes” (for instance “Kikes on Bikes”) versus anybody else using the term. Or using the word “Yid”, which is usually either an attempt to accurately portray antisemitic speech, or self-deprecating Jewish humor.
Its ok for Catholics to call themselves papist and otherwise use the word freely. Just like blacks and the ‘N’ word then. Whitey WASPs beware. C’mon man!(in the sense of humanity of course)