He's Got Bette Davis Eyes
Although it's All About Eve and not All About Steve, this movie has a large following in the gay community. It has no out homosexual characters, and the ones suspected to be gay—Eve and Addison— are the most evil and conniving characters in the picture.
The reason for its popularity? Simply that gay men love the fabulous Bette Davis, the campy, catty diva who gets all the best put-downs (source). Her insults would have the drag queens on RuPaul's Drag Race read to filth.
Oh, and on the Bette Davis fan site, the votes are in: All About Eve is their favorite actress' best film.