Cultural and social milestones
The Olympic games, in both its ideals and many times in practice, reflect the best progressive and peaceful impulses of society. And indeed, the London games proved to be the most socially advanced and humanistic one yet!
Gender equality:
We've come a long way from the ancient games in which women weren't even allowed to attend! There is still considerable prejudice against female athletes outside of aesthetic sports like figure skating and gymnastics. But the London Olympics did more to change that than perhaps any sporting competition before it.
For the first time ever, every country sent female athletes to the games. There are three Olympic participating countries who never sent female athletes to the games before. In 2012, that all changed, when Brunei, Saudi Arabia and Qatar all realized that women deserve their place in the sun, too. That the spirit of sports, fairness, competition and friendship should not be held back by gender oppression. Yes, it took considerable pressure from the IOC and activists within those countries, but now that the door is opened it's unlikely to ever close again.
For the first time ever, the US sent more female than male athletes to the games. It's fitting that on the 40th anniversary of Title IX (the US law that pushed school sports into giving women better access), female athletes in the US have finally caught up to and even exceeded their male counterparts in the biggest sporting event in the world. And the women more than pulled their weight. 55% of the medals won by the US at these Olympics were won by women! An even larger proportion of gold medals won by the US were won by women! This is especially amazing when you consider that men get over 100 more medals awarded to them at the Olympics than women. US women are the reason the US won the medal count at these Olympics. Unfortunately, in terms of coverage and sponsorship, the women still lag far behind men in the US. But we're getting there!
Gay/bisexual visibility
There were a record 21 openly gay or bisexual athletes at these Olympics, over twice the number of the 2008 Olympics! In addition to the athletes, there were a number of openly gay/bisexual coaches and journalists as well, such as Pia Sundhage, the coach of the US women's football team, and former NBA player John Amaechi, who commentated on basketball matches. This unprecedented visibility shows how much progress gay/bi people have made recently. On the biggest stage in the world, people heralded as heroes and the epitome of physical achievement are freer to be who they are.
The Netherlands' women's field hockey team had four openly gay/bi players, all four of whom participated in the gold medal match. This is the highest number of openly gay/bi people sharing an Olympic podium ever. A win in more ways than one.
France's triathletes Jessica Harrison and Carole Péon are a couple. Which, as far as I can find, marks
the first time a same-sex couple competed openly as teammates at the Olympics. There have been opposite-sex teammates and pairs competing together at the Olympics before, of course, but this is entirely new.
Overall, nearly half of all the openly gay/bi athletes at the Olympics won a medal, the majority of them gold! It's heartening to see that coming out did not impede their athletic success.
The lack of transgender visibility
Unfortunately, the T in LGBT got no representation at these games, at all. There were no openly trans/intersex athletes competing. And, as far as I know, there weren't even any trans coaches or journalists involved.
If anything, progress for trans people were set back at these Olympics. The IAAF, the governing body of track and field, started to require female athletes take hormone suppressants to compete if their natural testosterone level is close to that of the average male.
This decision has no scientific basis. There is no proof that higher testosterone level gives female athletes an advantage (in fact, there's some proof against it). And even if there were, outlawing natural advantages that an athlete got by dint of birth is ridiculous. What next? Banning tall people from basketball? It's a decision purely based on
superstitious notions of gender. It also creates an ongoing witch hunt for intersex athletes.