Our Flag Means Death provides a deeply positive and affirming portrayal of LGBTQ+ characters and themes. The show's emotional core is the central gay romance between Stede and Blackbeard, depicted with dignity and depth. Other queer relationships and identities are also handled with respect, celebrating queer love and belonging without harmful tropes, making its net impact overwhelmingly positive.

Our Flag Means Death features Jim Jimenez, a non-binary character whose identity is portrayed with dignity and complexity. The narrative affirms their worth, agency, and place within the pirate crew, with their gender identity being accepted without prejudice or mockery. The show's overall depiction is supportive and validating.

Blackbeard, a real historical figure widely established as white, is portrayed by Taika Waititi, who is Māori. This constitutes a race swap for a historically documented character.