Hi Alex,
I haven't read most of the replies to this episode, so forgive me if someone else has said this in their response or in previous responses to other episodes. First, let me admit that I am not a Crowley scholar. I'm not even a big fan (though I do have a copy of his "Book 4" sitting next to me on the shelf as I write this.) I may be mistaken, but I believe you are mischaracterizing the meaning behind his "Do What Thou Wilt." As I said, I'm not the biggest fan of Crowley, and I haven't cracked his book in probably 5 years. For the past two years or more I've mostly exclusively been reading texts on Vedanta and haven't looked at most of my books on magic(k) in some time. All the same, I think Crowley's intent on his "Do What Thou Wilt" was likely more in line with the spirit of Vedanta than the hedonism and nihilism you attribute to it, or to him. As I understand it, "Do What Thou Wilt", and Thelema particularly, is a charge to the aspirant to determine what his or her Will really is. That is, what one's genuine, true will is... as in "Know Thyself." Another statement that Crowley makes is, "Love is the Law, Love under Will." This suggests to me that Crowley recognized that, at the bottom of things, love is the ultimate value, even the only value. All the same, this charge is worthless until a person recognizes that it's true for him or her. Most of us have to go down a lot of dead ends and bang our heads against a lot of walls until we realize this.
As your guest stated, Crowley seems to be losing his prestige. Many of those who have written about him - even his apologists - acknowledge that he was willfully obscure and intentionally disguised much of his message at times in order to force his readers to think long and hard about what he really meant. (One of his contemporaries, and critics - Gurdjieff - did much the same thing in his own writings). This hasn't done Crowley any favors and, had he had the foresight to see how future generations would expect writers to say what they mean and mean what they say, I am sure he would have done things differently - even if only for his own legacy.
Anyway, just wanted to throw that out there. You've brought up the "Do What Thou Wilt" thing off-handedly numerous times throughout recent episodes and I think you ought to dig a little deeper on this.
Disclaimer: Crowley really did do a lot of questionable, extremely distasteful things. The above is not to be taken as a blanket defense of the man or of everything he did. Also, Ozzy Osbourne and you have both mispronounced his name. As Crowley said himself, it rhymes with "holy."