In the English speaking world and more specifically the US lifestyle was and still is used in a demeaning way. It still means the same as what you described however being attracted to the same gender as you is not a choice and describing being gay as a choice is just inaccurate.
Most people understand that hating on a person for something they cannot change is stupid, however homophobes get around this by calling queer peoples existence a lifestyle and then think they can justify their hatred through that.