On the other hand, within the LGBT community, tons of terms have been fully or partially reclaimed. Most notably "queer". That also isn't without controversy (and queer has been in the process of reclamation for longer than "nerd" has been an insult in its current context), but almost no one seems to think that by self-identifying as something (in good faith) you're bullying someone else.

The N word is interesting because most white people are very hesitant to utter it. It's a rare, off-limits place that isn't accessible to every person of privilege who otherwise feels entitled to go where they please.