Sure it sucks when companies, banks etc. start playing the moral police, but I understand why they want to distance themself from the content in question - they got a brand to protect and having sites like "ExtremeRapeOfDeadDonkeysCoveredInShit.com" (think I got all of the forbidden content covered in that site ;-) showing the MC logo could lead to image problems...
YES, you can probably buy everything in the physical world with your MC (guns, drugs, prostitutes, 3rd world countries), but the internet is a different place, where search engines trawl for information and make the connections visible... not good if you are trying sell your product on "good old banking values"...
Is "normal" porn next? Well - who knows other than the guys at MC... US judge dismissal of the Paycom suit saying that "it was not prevented from using other forms of payment" could be a sign of the things to come (pure speculation).
But as always - spread your eggs (no, not legs ;-))
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"Chaos is the law of nature, order is the dream of man."
~Henry B. Adams (Historian) 1838-1918
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