I've long believed that the crucial advantage of the term "queer" over the acronyms is that it acknowledges that diversity is not something you can exhaustively enumerate. we must be always prepared to embrace diversity that we hadn't considered before. this is the most consistent inclusivity
@lewdum a slight disadvantage of "queer" is that it may be taken to mean "homosexual" when the user is bi or otherwise actually open to a relationship with the hearer that homosexuality would exclude.