Let's be crystal clear. Queerbaiting is real. But it occurs when the creators intentionally hint at a queer relationship to lure in a queer audience to give them money, but never actually follow through on their heavy-handed implications of a queer relationship. Queerbaiting does not occur when the creator has been transparent from the very beginning that Malevolent is about friendship and platonic love, meant to work through the toxic masculinity they've lived throughout their entire life, and to express healthy platonic love (and sometimes unhealthy love) between two male-presenting characters. It is not queerbaiting when they emphatically tell each other that they love each other, because love isn't exclusively romantic, and while it is absolutely okay for people to ship them (and something that the creator is totally FINE with, btw), it is not okay to accuse the creator of lying about their relationship when he's been clear about it from the very beginning.
Friendship and platonic love is just as meaningful as romantic love and that's the whole point of Malevolent.