The story
Was shortened to the more recognised fully automated luxury communism, originally the Gay and Space were intended by activists to propose that this political idea would speak to a world liberated from persecution of all peoples, genders, and sexualities, as the only way to reach space in any meaningful way would require the collaboration of the whole human family. The meme was popularized in late 2016 on Reddit and Facebook.
Etymology from Wiktionary, CC BY-SA 4.0.