The censorship of the song has been in action for a number of years now.
It's ironic that the point being made by Costello is the similarity in the ignorant views of religious bigots and racists is eaxctly the same.
To simply seize on the word and censor it is, as in so many cases of wokeism, to find a knee-jerk reaction and miss the context, which of course is the point, when you are a lyricist as intelligent and socially aware as Elvis Costello was then, and is now.
No-one, especially Mr Costello is suggesting that the word is pleasant to hear - and that is entirely the point his song is making.
That of course is entirely missed by people who understand superficial offence, but have no inkling of wider meaning and appropriate social comment.
How ironic, that in order to be woke, you have absolutely to be as superficial, narrow-minded, and incapable of grasping nuances, as the people you supposedly oppose, and your knee-jerk facsist censorship is every bit as damaging and destructive of understanding and tolerence.