The CoC was pretty clear to refrain from offensive language, swearing, and the like. Thus, it was inappropriate by the conference's standards.
I'm perfectly comfortable with sex jokes made by any gendered person. But it was asked not to happen at this conference, and everyone who attended agreed to the CoC.
Grading the subjective offensiveness of the comment is beside the point.
Naturally this would vary from person-to-person. My opinion on the offensiveness (or lack of) is certainly relevant. That's what happens when you have vague, ambiguous terms of service that require emotions for a decision. Every person who heard the comment could have interpreted it differently.
Judging the words coming out of peoples mouths is hard, especially when you don't understand the jargon or the industry.
Frankly it's not innappropriate. It's a nothing. A completely irrelevant non-sequitor that is neither against rules or genders.