In some ways, who wouldn't want to be considered "hot"? After all, it is such a common way to describe someone today.
I asked a bunch of high school at a conference this week what "hot" meant. I tried to get them to offer some synonyms, like "cute" or "attractive." But none of them went there, they said "hot" was different, it was more than cute (one guy even said, "You can be ugly and hot."), it was, in short, a word that describes someone who is sexually attractive.
Did any of them feel like it was kind of an unfair and denigrating word? They were pretty taken aback by my question (even after I explained what "denigrating" meant!), but then just shrugged and said that being hot was a good thing, a compliment, and that any girl, or guy for that matter, would want to be called hot. It seems to be akin to a bit less common but similarly located term, sexy. But at least with that one we all knew what we were talking about.
Hm, I'm certain most people would see using hot is relatively harmless, and let's face it, probably almost everybody does want to be sexually attractive. This is what strikes me about this word: it seems that the familiar use of the word gives permission for leering, lust, and objectifying whomever we designate as hot. Perhaps we did the same thing with sexy, but this one seems to have pushed the envelop farther, and is far more blatant in its goal.
Here's where we seem to stand: to be called hot means that someone is, basically, attracted to that person in terms of sexual potential, and everybody wants to be seen that way. Great.