Is this tolerable?

I've only seen the trailer and it doesn't look good. A gay Asian guy is now one of the main characters. I guess they caved under the SJW criticism that the show is too much aimed at straight men. Back in 2004 people still had common sense. The cover of the original series featured a bunch of naked women.

That's an excellent answer, except I've not watched either of those or indeed the original The L Word (though I always meant to because the cast is so interesting). Clearly I have a lot of catching up to do.