Whoa, that escalated quickly.
The LTD is a lot less "Which girl does Cloud really love?" and more "Which girl does the audience love?". And when the pairing is treated more like Reader/Girl, then it's a lot easier to reduce it down to a stereotype.
Either this or which heroine a female player feels closer to and therefore would be chosen by the male protagonist if he existed in real life (or if she herself were part of the game).
I really wonder with Sepiroth/Cloud if (a) there is an "audience surrogate character" and (b) if there is, who would it be?
Interestingly, some girls comment on Cloud's suffering scenes, be it at Madame M's or fighting Sephiroth, that he looks "cute" and they would gladly have him suffer all day. That makes me wonder if they have some sort of sadistic attraction, or it's more of a hidden maternal instinct towards a character who happens to have child-like appearance features.
Hang on, that has just reminded me of an article I read years ago, and for the life of me, I can't find the source anymore. The article says that genres like western and criminal portray a homophobic, misogynistic, often racist world of harsh and cynical men who have to fight in ridiculously violent circumstances, which, in most cases, they have created themselves. That leads to the idea that showing vulnerability is allowed only if a man is wounded. It suddenly becomes appropriate to examine someone's body, or hug and shed tears, only if someone is on the verge of death. The author argues that this phenomenon is rooted in Christianity: on the one hand, explicit sexuality is forbidden; on the other hand, there's a half-naked Christ, a suffering St. Sebastian, and some other martyrs. So an average believer basically gets the idea of empathy and the ability to love through idolizing suffering, and, according to the author, that's why looking at a man's wounded body evokes sensations of intimacy, tenderness, worship, and spirituality. If that's the case, then gay prose/art takes it to another level, and Sephiroth/Cloud is an excellent example of such dynamics.