The op of that tumblr thread blocked me after I asked him about the fact things he claimed were common knowledge about a video game I played extensively as a kid do nopt line up with my memory. So I'd take his claims with a grain of salt.
Given HP Lovecraft's known status as a paranoid raging bigot, I wonder if there's some game where the elder gods are cool actually, the "cultists" are just people broadening their horizons into cosmic queer transhumanism, and the investigators are just close-minded people wishing to restore their own sense of normalcy. Which, true to form, about half the time awaken into these horizons anyway.
I don't know but I'm now very much considering writing that book, as a scathing critique of how those books are "products of their time," and as a metaphor for how times change.