He represents nothing more arcane than "American Manhood." There's a fully-clothed woman, also, representing "American Womanhood."
It is particularly surprising because it was sculpted in 1963, when male nudity was not commonplace in public art, even with the penis covered.
The sculptor was Donald De Lue (1897-1988), who grew up in Boston and studied in Paris, like many artists of his generation. After eleven years as assistant to sculptor Bryant Baker, he pushed out on his own, specializing in public art.
Stately, muscular male nudes, gods and other mythological and allegorical figures.
Like this Babylonian-style frieze "Law and Justice," on the Federal Building in Philadelphia, is from 1941, just before the U.S. entered World War II.
Or The Rocket Thrower, created for the 1964 World's Fair, now at Flushing Meadows-Corona Park in Queens, New York.
Among his most famous sculptures is The Spirit of American Youth Rising from the Waves, in the American Cemetery at Normandy (1956).
Most of his public art hides the penis, but his smaller pieces don't. The Sun God (1937) is now at the Dallas Museum of Art.
Icarus (1934) is at the Smithsonian.
Of course, drawing artistic inspiration from the bodies of naked, muscular men doesn't necessarily mean that you are gay. But it doesn't mean that you are straight, either.