A hero named Puri Puri Prisoner gets absolutely destroyed by the sea king in the middle of season 1 after being very vocally gay. He talks about his boyfriend making him a sweater and calls all of the men he interacted with his boys, a few minutes after he's introduced he's punched with intent to kill several times. They say all of the heroes are in critical, he survives fine and goes to see two of the boys after but he's still treated very much like a joke when he shows up.
There are multiple racist caricatures, and some monsters have those donut lips. There is also a transphobic caricature, but she hasn't gotten much screen time yet.
The villain Super S is basically a dominatrix. She whips people and attempts to turn them into her "love slaves." She also wears a tiny, tight harness and tall boots and not much else.
Throughout the show, the protagonist contemplates his unenjoyment in life, and how his weaker opponents fail to thrill him. This feeling is shared with his opponent in the season 1 finale. In S2E9, he and a supporting character have a textbook nihilism vs. existentialism conversation.