I might be a bit of an odd duck in this conversation, as I am a heteroromantic asexual, but I do read bl/yaoi comics, and believe there are several very good ones (Natsume Ono, as mentioned above, is one great creator). I'm very much okay with lesbian couples - not that they need my approval! - and don't usually go on loud nosebleed rants about the genre, so yes. I don't fit into either of your categories, and there are a lot of other people who don't either.
As for fetishes... well. Those exist everywhere, and there's no real shame in having them. What turns you on, turns you on, and there's enough shaming going around when it comes to sex without us mocking people for what kind of fiction they enjoy.
There are definite problems within the yaoi genre - not just among the fans, but within the actual stories themselves - but those are so heavily tied up in Japanese cultural expectations and gender norms that it's difficult for me, as a Westerner, to even begin to articulate them.