This happens like nearly everytime a rapper uses that word aswell. It's the same as how "bitch" is a commonly used word, and can mean "female dog", but most people don't use it in that context.
Or "bastard" can mean a child who was born to parents who aren't married. But people don't use it to mean that anymore. How would anybody here like it if they said "bastard" and then a load of people who were born outside of marriage caused an uproar and told you that you hated them?
The F-word that Tyga used, often has absolutely nothing to do with gay people. So him using that word is not enough to call him homophobic imo.
Um . . . please enlighten the class about the alternative contexts in which the words f*g (when not referring to bundles of sticks or cigaretts) and tranny are NOT meant to be derogatory.