Couldn't see any other threads on this. Just read this BBC article on the decision by the Editorial Standards Committee to effectively permit the term 'pikey' to be used to mean "cheap or chavvy". The end of the article says that they now advise it only be used with "extreme care and sensitivity". However the defence of the Top Gear episode is nothing to do with it being used sensitively, they are effectively saying that it was just a joke, everyone knows what it means, but in future we'll ask people to be more careful.
Or AIBU?!
I am just genuinely surprised that they defended it as being an accepted term that has evolved. Growing up it meant cheap because it was derogatory about travellers. That is still offensive if it is being used to mean cheap today, there is no evolution!