some stories are death games first and foremost, and the focus is on that aspect and the puzzles etc.
squid game is a story about south korean society's relationship w capitalism and the US and how that affects people first and foremost, using a death game as a vessel, so the emphasis is on making sure the components fit that
also you have to look at the broader context when it comes to how shows end up handling things like gayness. none of the players or guards had any indication that they were into the same gender, and the only one we did get was a decadent, evil rich man. while that does not necessarily stand out as over homophobia, it is at best unfortunate, and when taken in with the broader context of people from centuries ago to today seeing homosexuality and bisexuality as an expression of decadence, it definitely has issues