No I don't. I think she's demeaning herself, and I think ol' hef is pretty disgusting these days. I had a different opinion when I was young and hef was at least younger. However, at some point hefner stopped being funny and became......disturbing. I suppose I've changed. Maybe I just grew up.
As to the rest of your post, of course, people do things for dubious reasons. You can't stop this. I wouldn't if I could. However, you don't have to legalized and therefore legitimize something that is so clearly harmful to the participants.