You’re bang on. The consistent moral outrage at the word imbues it with a power unrivalled in the modern world - a power which can be ‘harnessed’ to level the playing field via socio-linguistic retribution. What you’ve pointed out so well is how levelling the playing field in this way carries with it the implicit assertion that one group of people aren’t level.

It needs the full Berkoff ‘Cunt speech’ treatment and to be used by everyone all the time until it carries zero power. This idea of reclaiming a word is nonsense, all words belong to all people - everything else is just segregation dressed up in a fancy hat. :o)