Gay (in the case of GayPal) is an expression of discontent; it has nothing to do with homosexuals in this context.
Here's how it works in action:
Bro one: "Amazon failed to deliver my package so now I gotta dispute it."
Bro two: "That's gay."
or
Bro one: "I have to attend my girlfriend's choir recital so I can't drink brewskis tonight."
Bro two: "Gay."
And to be frank, gay never meant homosexual to begin with. The English language is an evolving creature.
Think about why "gay" went from meaning happy and carefree, to meaning something negative and nasty. If you can come up with anything at all that doesn't have anything to do with homophobia and general distaste for gay people, you're right. If not...
When did fag turn from a bundle of hay to a cigarette to a homosexual? What do bundles of hay or cigarettes have to do with homosexuality? I'm sure there's a reason for it, but sometimes the meaning is obscure, and ceases to apply. I've read some older books which used the term "gay" freely; even males referring to themselves, and it wasn't to imply they were homosexual--it's odd to see, nowadays, because the word's taken on a much different form. Reading Shakespearean is alien. Shakespeare reading Twilight is alien.
Also, gays (the noun, not the adjective) refer to themselves as gay. When they come out of the closet, they say, "Mom; Dad; I think I'm gay." Joe's gay, and he loves his big gay husband. Heck, it's barely an insult anymore, now that I think about it. Fag is still hot, but even fag is turning into a common term that gays use to refer to each other (or maybe that's just gays in media.) To derail a bit, it's an odd phenomenon; like blacks and "nigga". I don't know why it happens. At one point in time, it's an insult; the next, it's not only common, but the group it was used against is now using it as a noun. And thus, the negative connotation dissipates. I suppose it's a cultural effect. Anyway, gay has many different forms, and only a few of which are literally about homosexuality. Gay as an insult came from a point in time when it was used against gays (I'm assuming a gay back then was supposed to be awful frilly, which some are,) but as gays no longer consider it an insult, but a noun, it is instead used to express general discontent toward anything--not gays specifically. Then again, Jew works the same way, and it's generally frowned upon to use it as a negative term.
I give up
I'm certain there are lots of words we use now that were 'bad' at some point in time, and those who use them without the negative connotation today will be the pioneers to new words and less insults
12 year olds use "gay" enough to water it down, anyway.