Whether he's gay or not isn't the point, it's the annoying femme mannerisms. Guys dressing in glam rock outfits in LA did not have that same Little Richard gay mannerism, which is where i think he got it. He never came from LA. It was always Minneapolis, along with the band the Time.
As far as getting trim because of these mannerisms, anyone with fame gets plenty of that. Even Billy Joel. Nothing to do with prancing around stage like Liberace. It's interesting how he usually gets a pass on those mannerisms. Personally i've never cared for the music either, or the hype about Prince, he's obviously a Hendrix wannabe.
Excerpt, re: 1981:
That same year, he gained his first exposure to the mainstream rock audience by opening a few shows for the Rolling Stones. Taking the stage in a trench coat and bikini briefs, he faced down nearly 100,000 Stones fans at the Los Angeles Coliseum, and was booed off the stage.