It depends on what you mean by "OK", because the term itself is vague. And OK to whom? Is it OK to eat meat - ask a Vegan.
If Will Smith punched someone else and in an unrelated incident a stranger punched Will Smith unprovoked, then I would agree. Punching is a criminal offence, whoever does it. The criminal law defines what is considered OK, at least in legal terms. But telling a joke is not criminal. Also, making fun of someone based on a lack of hair is just a joke by Will Smith's own standards. At least when *he* is poking fun at others.
To be fair, I don't know what you are referring to when you say "Golden Rule". And what is the reverse of the Golden Rule?
Edit: It is a good point you made that you should not always do unto others what they have done unto you. Because if your neighbour raped your wife, then reciprocating is not a good response.