Comedy bridges the fine line from seriousness to fun.
What I find hilarious is how Native American form of comedy is about roasting, not just for laughs, but also as a means to correct the wrong by presenting it and showcasing it for all the people to see, by re-enacting the act in front of all the community to witness, there's a story of this couple who did the nasty when they weren't supposed to and the "comedians" made them do it in front of everyone. The lessen is, if you don't want to be made fun of, then don't do these things that will get you made fun of.
This "hate speech" rhetoric is detrimental to the fun/serious dynamic that comedy deals with. For one, this depends on the person who is being dealt the "hate speech". I know people who do not care at all what someone thinks about them, so the "hate speech" does not affect them.
I read in history class about the virginian eye-gouging and hair pulling and how these men would boast and call each other names that is essentially "hate speech".
Theres also a fine line of "hate speech" and criticism. And comedians walk this tight rope, and the best ones can walk the fine line, such as Carlin.
There's also, Shock Comedians who use shock humor, such as Daniel Tosh, which also walk the fine line of "hate speech" and criticism.