Exactly. I got called “fag**t” in elementary school by older kids who (like me) probably didn’t even know what that word meant. (I guess they ended up being wrong!)
Their point was “bullying,” not specifically “anti-gay bullying.”
When I was a freshman in high screwl, this one kid always was calling me that, so one day I laid a nice right cross on his jaw, which made him smack his head on a row of lockers behind him. He was really nice to me after that. If I had done that in today's climate, I would be the bully, not the victim!