I think it could be a terible idea to, BUT as you know I love niche marketing

. The way I see it a site like this is never ever, and I mean ever going to compete with any big sites.
However if I owned it I would be looking to be on the exsisting network and maybe rake a thousand or two a day. Not alot at all in this idustry, but this could actually be realistic if you spend your ad dollars on other gay sites.
I agree 90% of gay people who play poker could care less, but again it's a numbers game. Your target market would have to be gay people who are new to online poker I would imagine.
All in all I don't see it as such a terrible idea if the guys running it are well capitalized and can spend a few bucks on advertising. A skin raking $1k a day is nothing which over a 1 year period after expenses equates to a decent income. More than likely it is a couple people doing the site versus a bunch of people with huge overheads.