What is your opinion on Sigmund Freud's take on homosexuality?

The following is a quote by Sigmund Freud in a letter in 1935. Freud basically believes that all human beings start out as bisexual and that we eventually develop to be either homosexual or heterosexual:

“Homosexuality is assuredly no advantage, but it is nothing to be ashamed of, no vice, no degradation, it cannot be classified as an illness; we consider it to be a variation of the sexual function produced by a certain arrest of sexual development. Many highly respectable individuals of ancient and modern times have been homosexuals, several of the greatest men among them (Plato, Michelangelo, Leonardo da Vinci, etc.). It is a great injustice to persecute homosexuality as a crime, and cruelty too….”
-Sigmund Freud

I personally find it amazing that a man of his time in the 1930’s could be so brave as to voice such a controversial viewpoint. Keep in mind this was the 1930’s. He clearly was a man ahead of his time (intellectually).