AHS has never shied away from featuring real world issues/plights along with the otherworldly. These two ideas can coexist as long as the story is strong enough. Telling the story of the AIDS crisis and the community that was left to deal with the horror on its own, is absolutely one worth telling. Even mixing in fantastically elements can't damper this. Angels in America is a great example.
Unfortunately, AHS/Murphy & co. Are not the ones to tell that story. This season falls flat quickly and the big reveal that AIDS was the true horror the entire time was so predictable. I called from the second episode that the leather man was AIDS personified.
At the end of the day, AHS NYC reminds me of Roland Emmerich's 'Stonewall.' We're told the story of the gay rights movement from the eyes of a cis, white gay man from the Midwest. And just like that movie, we're told the story of the AIDS crisis through the eyes of cis, mostly white gay men. This wouldn't be too big of an issue, if Murphy didn't use every other season to tell the story from a cis gay man's perspective.
While not only telling a story of the epidemic in a morally questionable way, my biggest complaint is that the season never gains momentum. Stories and conversations that are important to hear, are delivered and showcased with next to no emotion. Even with so little happening on the screen, the story never focuses.
I could go on and on about how this season is a failure on more than one level. I'm not sure where AHS is going in the future and I truly don't believe I'll be along for the ride.
For a modern retelling of the AIDS epidemic that gives the story the gravitas required, It's A Sin is a must watch.