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They're able to say it. It's an insult.
I read a theory once that "daimon", the Ferengi title for captain, could translate to "good/lead merchant" or something along those lines.
So if we assume that's true, it's possible that "hewmon" means something like "shitty merchant", and it's just pure coincidence it basically sounds like human.
I like this theory, it feels like one of the authentic ways that slurs in earth languages actually get invented.
Ahh yes, the Monkeigh defense. I always knew the Ferengi were really space elves!
Human is the one word they know in Federation Standard. They go out of their way to mispronounce it.
That's what I figured
I mean it is usually said with some distain in the voice. I had always thought it was some sort of pun or something.