read the reviews
Most thought it was a very bad movie. Being nominated for a razzy is a pretty clear indication the vast majority thought it sucked, no pun intended.
Personally I have no problem with the fact that Alexander was gay. As you point out it was the norm back in that age. It just seemed like literally every other scene Oliver Stone was saying, "hey, did you forget he was GAY!" It was overdone.
It could have been an epic that would have dwarfed Braveheart and Troy. Instead it was a piece of shit. Stone deserved all the bad reviews.