- It's implying that it's bad to be homosexual, because people use "no homo" as a clarification that they're not being homosexual/homoromantic.
- There's tons of other, more clear ways to say this. For example: "not in a romantic way"
- People use "no homo" because it makes them feel cool, but it's actually kind of offensive. The LGBT+ community is really dear to my heart (partially because I see myself as part of it), so this saying sometimes feels like a personal attack.
- Even if you don't see it as offensive, just don't say it because it can be taken the wrong way and why not just avoid saying it?
- "Not in a romantic way" is assumed between friends, regardless of their sexual orientations but even more so if they're not attracted to that gender. For example, between two straight girls. If you cuddle your best friend while watching Mean Girls, nobody is going to think it's because you're attracted to her! You should be, and are able to physically show how much you care without it being seen as romantic.