Absolutely! Just as Friend of Dorothy was code for a gay person. It's striking how deeply The Wizard of Oz insinuated itself into gay/queer culture.
Then when Gregory Maguire wrote the novel Wicked, he invented a whole new queer-coded allegory that hit different notes and even conflicted with with how we thought about the original. But we loved and continue to love both allegories, in different ways.
Are we Dorothy, the wonder-struck ingenue busting out of the grey mundanity of Kansas, or are we the green-skinned Other villanized for surface differences, forced to question everything we've been taught to believe?
We can both at the same time!
So here's to defying gravity!