If you missed all the Frank Ocean hype (he confessed in a pretty moving blog post to having had an unrequited love for a good male friend) in the last week, then this performance might not be quite as "heavy." Anyway, this is the song with the lyric in it that led to the speculation, which led to him "coming out." For anyone who knows anything about the hiphop world, this is a big ****ing deal as Frank is a lady's man who is part of Odd Future (they're like the JackAsses crew of hiphop right now), so it's a really strange deal.
All that being said, the performance stands on its own:
In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican.
- H. L. Mencken