Too subjective to be a yay or nay response. Someone who is not yet unconscious but can't stand or walk without assistance is clearly too drunk to consent to anything, and probably will have no memory of what happened anyway. This kind of drunk includes both men and women, since women (and men, for that matter) can clearly sexually assault someone whose physical ability to defend themselves or resist is severely impaired or non-existent.
I've seen videos of several young men sexually assaulted a young woman on a pool table. The woman was going in and out of consciousness, occasionally waving a hand and once swatting at the man on top of her. At trial, the defense was that since she was conscious at least some of the time, it wasn't rape. I say, horse feathers. She was much too inebriated to even know where she was, let alone give consent to pulling a damned train. Don't forget, this very well could have been (and actually has been) the situation with male on male rape as well; an infamous frat party that made the news years back comes to mind.
Now two people who have too much to drink, get the giggles, and end up doing it while whispering slurred but sweet nothings in each other's ear, that's a different matter. Morning regrets are not unusual on both sides, but it's not rape. It's abject stupidity.
I think this is about so-called "date rape", and the belief some have that if a woman has a couple drinks, gets buzzed, lets a guy kiss her and maybe even cop a feel, then says no when he tries to rip off her panties, that it's not rape because she was "teasing" him. I can't count the number of times I've heard men saying to each other, "If she didn't want it, she shouldn't have gone out in the first place and let the guy spend money on her."
The word "no" is uttered and the sexual assault continues, it's rape. If no word is uttered because the victim, male or female, is unconscious or too intoxicated to form a coherent sound, it's still rape. If two people are buzzed to the point that inhibitions are gone, but they can still walk, talk, and jointly fornicate, it's not rape.