The thing I don’t get is this: ET was on the record as saying that if “Fran is Fat” won, since Fran was okay with it, they would have published it; why wasn’t the same standard applied here?

If Bashy were okay with it, and it won a legitimate vote (which “Fran is Fat” did not), I don’t see any reason not to publish “Bashy Bashers”. If, eventually down the line, it turns out that the joke has run its course and it’s no longer funny… there’s no guarantee that all of the community forums will remain as part of the game in perpetuity, just remove it.