Is f*ggot offensive/a swear word?

Ok so I always thought f*g/f*ggot was a bad word. BUT, I started watching this show that aired from the late 90s to early 2000s, and they say those words as casually as we say “literally”. I always thought it was offensive, but this show is tripping me up now (if anyone wants to know the show is Will & Grace and 2/3 main characters are gay so that’s what they refer to when they use the term). Anyway, just wanting clarification. Thanks.

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