It's an allegory for the Bush Administration! Well, sort of. Well, not really at all. I guess "'Beowulf': War Porn Wrapped in a Chippendale Dancer's Body" is the article you write if you work for Alternet. Note that it is found in the "Sex and Relationships" section of the website, not in the culture section. It's the kind of lazy writing you find when you combine three ingredients: A tight deadline, a writer with nothing particular to say, and an editorial board whose raison d'etre is to hate Bush. Take subject area, mix in equal parts recent pop culture phenomenon and Bushbashing, blend. h/t Gypsy Scholar.
By the way, following that link, I found this article (which was originally a blog post, I think) from Queer Universe, arguing that Beowulf is not homoerotic. I finished the article more convinced that it is than I was before, but maybe some of you will be persuaded.