Are "gay pride" parades legitimate?

Sexuality is not chosen, so being gay is not something that a person could be proud of. However, these parades seem like harmless fun, and they might even help alleviate homophobia. (They might perpetuate stereotypes too, however.) So are they, on balance, of benefit? Also, what should be made of the fact that a "straight pride" parade would be seen as homophobic? Isn't the goal here equality? Does that show that gay pride parades are elevating a minority into something special and unequal?