I do not believe hip-hop will ever accept a homosexual rapper; male in particular. I say this because I know I could not listen to a male rapper rhyme about participating in sexual intercourse with a man. If there was a gay rapper and he was a great rhymer without speaking about his sexual encounters I would have no problem listening to him. That may sound narrow-minded but as a listener I like to listen to music I can relate to in some way, shape, or form. There are many topics that are common in hip-hop that I have not personally experienced but growing up in a lower-class community these are things I have seen or have knowledge of.
A big part of being a music fan is learning the lyrics and reciting them while listening. I could not recite a gay rappers lyrics if he is talking about his sexual encounters. The same thing goes for female rappers. I am a fan of Jean Grae because I can recite her lyrics and relate. For example: Nicki Minaj, Lil Kim, and Foxy Brown are all good at what they do but I am not a fan and I would not recite most of the things they say because I cannot relate.
A good artist is a good artist, end of discussion but a big part of what makes a good artist his their ability to connect with their audience.