For me, the problem with that was that you have to go back and rewrite the Golden Age stories for that to work. I'm bi so I have no problems with his being gay. It can work. But it seems pointless.
I also disliked Marvel making the Rawhide Kid gay but for a more obvious reason. Oh, I get it. He's the "Rawhide" Kid so, of course, he's gay because stereotypes.