I notice most of the discussion has been around drag, whereas the OP was about camp.
There was a time when portraying gay men as mincing, limp-wristed 'fairies' was considered deeply offensive, homophobic stereotyping. Which of course it was.
The counter argument was that gay men are just ordinary men, they come in all shapes and sizes and styles.
I've noticed a resurgence of campness amongst gay men in the media - the head tilt, the exaggerated pronunciation, the hand-waving, the posing, the dainty walking...
What's different now is that the performer of all this campness may well be wearing 'standard' men's clothes, and even a beard, so the campness is all in the gestures and behaviour.
It has just occurred to me that Jack in Will&Grace exemplified that, he looked like any bloke, until he started speaking and moving. [An absolutely brilliant acting performance, whatever you think of him or the programme!]
I wonder was he a leader, or was he expressing a trend already in existence amongst gay men in the US?
I saw something on TV recently that illustrated this: a gay man presenting a home makeover programme - very standard male attire+ beard, combined with incongruous camp gestures and speech. He came over all 'girly' when it came to using power tools, and very camply said he was too frightened of them so he'd leave them to the expert. Who happened to be a woman.
So he was too 'girly' to use power tools, but a woman isn't too 'girly'..