Ah, the internet. I found this while I was doing an image search for Superman's alternative outfit (see below) for the massive comment thread on the Smart People post. I just had to put it up.
When Supes first got the new costume, an anchor on SNL's Weekend Update said the change occured because the old outfit was deemed "not gay enough." Clearly they hadn't attended the 2002 White Party pictured above. Tasty.