Exactly. When the negative intent is absent or entirely of a casual "in fun" nature, our language and meanings can flex, borrow and outright steal for the occasion at hand. For the context at hand.

Timing is everything though. Where and when words are used matter a lot. Not everyone will always agree on that.

Dare I say it, but this happens with the word "faggot" in certain places such as violent online game chat. Terrible word in almost all circumstances. But in some violent action games where all the virtual characters are male, you may wish to sledge an opponent with something stronger than "sissy". Suggesting the opponent does not meet the standards of the male gender role, requires a word fit for that occasion. "Faggot" steps up, phonetically punchy, scalding, indecent, it is for a moment free from the usual derogatory swipe against homosexual men, and for a second inspires fun and laughs. It can't be over-used however. But with the right timing and placement, it can be used by all in the game, male, female, gay or straight, without repercussion or the burden of having done a bad thing.