This was already discussed in a similar thread opened by Futurist. There was no objection against that thread because of different wording. That's all there is to it; people are indignant about the choice of word(s). I'm more interested in discussing the effects that could arise if such a scenario were to become reality.
I'm sure many people would like to try out the sexual orientation they don't currently have. Many gay people have problems accepting their own sexual orientation, especially "at the beginning". For those individuals, this would be a huge relief. For those gay people already quite settled and comfortable with their orientation and maybe lifestyle, this could look like the end of the world to them.
If there was a way to reverse/inverse homosexuality, and society being as it is now, would there be any choice but to follow the treatment? If you didn't follow it, you'd "deserve what you get" - that is, discrimination. At least, I strongly suppose this would be the majority's opinion on that matter. Diversification and acceptance of different sexual orientations is currently being promoted in many countries. If there was a way to solve the "problem" in another way - a quick fix, if you will - what would happen to those movements? I'm not sure equality would be on the agenda anymore. Homosexuals would be gay by choice - they resist to conform and be what the norm is. It's their own fault if they're not accepted.
I think that would be the most prevalent mindset.
It is imaginable that heterosexual people would like to "try out being gay" for a while, but somehow, I think that heterosexuality will stay the predominant orientation. Gay culture would most likely die out within a few generations. After all, most people I know struggled with it when they were young. Almost all would have taken a pill or something to change it.
It becomes problematic when suddenly such a pill exists and you have already taken all the stept to accept and adapt to what you found is your orientation. I guess a lot of people would lose their idea on who they are. What may be consequences? I don't know, but it's thinkable that some would commit suicide or riot, others...? Who knows.
I wonder if this would translate into less acceptance of diversity and alternative lifestyles?
"All scientific advancement due to intellegence overcoming, compensating, for limitations. Can't carry a load, so invent wheel. Can't catch food, so invent spear. Limitations. No limitations, no advancement. No advancement, culture stagnates. Works other way too. Advancement before culture is ready. Disastrous."
There's definitely truth in that...