Could be. But I've seen it happen where the dad was totally absent (either gone or just not there emotionally/etc.) and the son developed a deep bond with his mother because of it. Theory is the son goes through the rest of his life looking for that deep emotional connection with another male---the one he didn't get with his father---and that begets the ghey.
Also sexual abuse at a young age has a good deal to do with it.
I can buy into your theory as well. I hadn’t considered the sex abuse angle.