At the risk of having the shirt lifter's bellowing I think the parade serves as a great opportunity for London Fire Service to functionally check their fire hydrants and hoses. They could wash the whole show down the drain where they should be. As others have posted, we, the vast majority of hetro's have had enough of being gagged.
Might be a little harsh - and I'm not sure how it would fit in with the hosepipe ban. But from a personal perspective, I tend to take the whatever floats your boat perspective; life's short, why not be happy. Plus, taking a slightly opportunistic view on it, it does reduce the competition for the pretty girls, so in that sense, I think it should be encouraged