On the one hand, yes. But on the other that's also been true of The Gap and Nike. Fruit companies have toppled governments, and people have been shot suppressing unionization in a host of industries.
I am not convinced that the morality is enough to convince the credit card companies to forgo their cut of that "lot of money."
I suspect that the bigger concern is the higher levels of fraud when many participants in a market are unusually uncomfortable turning to public courts to address disputes.
The big European porn companies in the 70s and 80s were involved in trafficking children to countries where CP was not illegal. There's really no comparison, porn companies are run by the scum of the earth.