I think "gay pride" is similar to James Brown's "Say It Loud". I think the message of gay pride is "I'm proud and I'm gay", not "I'm proud that I'm gay". They're two totally different things. Both gay pride and black pride were started in eras in which it was considered slightly sub-human to be either.
In principle I agree with you, but my point is that the pride rallies are more about restoring humanity to those who have been robbed of it than celebrating the thing itself. One doesn't need to be proud of anything in particular to be proud of one's life generally. I don' think that's narcissistic; its just about self respect and dignity.