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I don't think the poor sales can really be just attributed to the lesbian subtext. I've come across many posters on various anime forums who viewed the relationship between Utena/Anthy as strictly friendship. If anything the incest/pedophilia subtext would put off more people I think.
Utena is the kind of series that rely heavily on visual symbolism and metaphor and isn't really the kind of show that generally appeal to US mainstream audiences. CPM's terrible release schedule didn't do sales any favours either.
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