Well the first one has basically one meaning that’s derogatory (including the definition of a bundle of sticks used for kindling; that’s literally why it became a slur as it implies you want to burn them) while the three letter word is also slang for a cigarette in much of the world.
removed and fag are used interchangeably in much of the world. Both have other means, both are derogatory and both mean gay.
Makes no sense to censor one and not the other.
I’m no historian or etymologist but I saw one on YouTube once who said a very similar term was used for poor older women who supposedly went around hunched over all the time picking up sticks for firewood, and then was later transferred to homosexual men to imply they were weak, effeminate, outcast, etc