I don’t think using “haha they might be kissing each other! Musk sucks Trumps dick!” is somehow effective criticism of actual fascists in office.
It is, for them.
Especially having Trump be "the bottom".
Ever watch Shameless, the US version? Its along the same lines as Terry, Mickey's dad. He only hated Mickey because he was catching, because "It aint gay if you're doing the fucking, just if you get fucked".
So, in this case, yes, making implications of gay sex happening, with Trump catching, is VERY effective at it.
Let me use another example: calling them "weird".
It doesn't matter to a rational person if another person calls them weird.
It matters to Reich wingers, who base their whole self identity on "matching the ideal".