The regulation of entertainment goes on in many arenas. From violent video games to the language used in sitcoms. The vocal few who believe that a moral compass must be stamped on our viewership is, of course, extremely incensed by pornography. Like so many other mediums these people want to regulate pornography out of our society.
Pornography should be seen both a a creative endeavour covered by free speech and also an industry which is free to operate as any other is.
First, let us call pornography by the name it is better known as in the realm of business: the Adult Entertainment Industry. By the very nature of these three words it can clearly be shown why this is subject only to the most lenient of restriction already applied to the internet as a whole.
First, pornography is an industry. We can tax it, regulate employment, and make all of the proper contractual arrangements to ensure that the business is conducted well within the confines of the legal business world. After all, this is an industry based on providing a product created by consenting adults and marketed to other likewise consenting adults. It can also only be legally viewed by adults as per the same laws and restriction that bind the print media side of this business. The content within should thus remain free of restriction - within the bounds of legality.
Second, pornography is entertainment. It exists because there is a market for it in all the varied colors it comes in. Just like a police drama; adult entertainment can let us experience and enjoy a side of life we might not have the chance to experience. Also, just like any other form of entertainment, viewership is voluntary. Pornography does not come knocking at your door and force you to look, it waits within the confines of the large net of websites that cater to willing clients.
Last, pornography is adult. It is made by and for adults. Anyone who would equate the world of child sex exploitation to the adult entertainment industry is doing nothing more than using an emotional charged crime as a straw man in an otherwise legitimate debate. Once again, this is product that already exists within the legal system and requires the consent of all parties. Beyond that, anything that is made with those consenting adults is as free to content as any other creative expression. Call it smut or call it art, it is the creation of business minded people to create a profit from entertainment. The internet does not change any part of the equation.