If "the gays" are losing anything, it's their edge. Gays are more and more accepted in mainstream western society. That's great, but the simple fact is, there's less and less "necessity" and room for gay-exclusivity, and less and less distinction between "gay" and "straight" culture, identity, etc., because gay style and culture are essentially being evaporated into the mainstream heterosexual macrocosm. Gay culture is becoming another indistinguishable element of the mainstream.
Personally, I don't like it. All these straight people acting and dressing up like queers and thinking they're really "hip" (as opposed to shockingly unoriginal) is just embarrassing. I don't want to throw around loaded words like "appropriation", because I can't abide puffed-up SJW buzzword salad or the people who use it to push their agenda, but that's basically what it is. Surely I'm not the only one to notice it, right? Like I said, it's good that gay people are being more and more accepted, but with that comes a lot of straight people stealing all our good ideas and neutering them. Comes with the territory.
It happens with anything that becomes "mainstream"... Look at punk!
EDIT: Also, all of this:
I don't think Gay Anthems are truly part of our holistic identity so much as they are a generational trend that has faded out along with Circuit Parties, Tribal Tattoos, and the Queer As Folk aesthetic. Personally, I also think that mainstream has actually drifted more towards us, and so in reality, it just feels less unique/special/subversive than it did in prior decades.