I don't know if he actually is homophobic but I think it'll just be a misunderstanding on MC's part. ML probably just meant other guy's behavior in general rather than being gay. That's my guess anyway.
I think he did that for revenge in all honesty, i think ML noticed how head over heels MC was towards that dude and wanted him to shift his focus to himself instead. Maybe In a bit of toxic way
ML “I hate that guy because he’s gay and i hate homosexuals,
anyway, do you want to kiss and make out?”