I think most incels overplay hatred for homosexuals and transgenders because they know that the incel-to-trans or incel-to-gay pipeline is so prevalent; it's a Sisphyean struggle against flawed development and the forced subordination that accompanies it because associated conditions like inceldom, LGBTQ, autism and such are all caused by atypical hormones leading to massive overlap.
I believe Incels see the increasing homosexuality rates as beta males being socially defeated as hypergamy accelerates, leading chad to dominate the sexual marketplace. Competition does not necessarily decrease as these men weren't on the radar in the first place...
Animals such as Bonobos and Dolphins are known to engage in gay sex as a method of establishing a pecking order and reducing conflict. It's been controversially proposed that homosexuality arises in order for weak males to form alliances and avoid violent competition with more dominant males.