3. The album title proves that Lil B recognizes the power and influence that he has over a whole lot of young people right now.
Lil B didn't have to come out at Coachella and announce that his next album was going to be called I'm Gay. In fact, there was really no precedent for it. It's not like people have been clamoring to know what his next project was going to be called. But Lil B has obviously started to recognize that people care what he says, thinks and does. So he took his opportunity at Coachella to do more than just run around the stage screaming "Swag!" More power to him for doing it.