It has nothing to do with homosexuality.
Just as it didn't a few decades ago.
The homosexuals usurped it from the language and turned it into something despicable so that they could call themselves something the opposite of what they really are.
A little word game.
Well, now the word has been taken from them and used by the youth to mean something is lame, dumb, stupid etc.
From The Urban Dictionary:
So 'Ghey' has nothing to do with homosexuals, although they will still complain about it.
1. Teh Ghey Phrase origination: 'That's Gay'.
'Teh Ghey', is an Internet slang-based phrase, used to express dislike for something, someplace, or something.
'Teh Ghey' has nothing to do with homosexuals/gay people, although some people seem to think so.
"iPods are teh ghey."
"iTunes are teh ghey."
"That movie I went to see last night was teh ghey."
"Trish is annoying. Everything she talks about is teh ghey!!"
Heck, they stole the word, so now it has been stolen back!
Well, urban dictionary or not, that’s plain silly. If you know ANY teenagers (and I teach at a university) that is EXACTLY what they mean-—”that’s so homosexual.”