Alright. This is a fair point. I go way out of my way to discourage underage visitors to the erotica website I run, and I do agree that there is tremendous sensitivity in the current era towards the notion of anything sexual involving children.
Despite that, I don't think such sensitivity is unreasonable. I do believe that children are sexual from quite an early age, and that that should be accepted and encouraged from a sexual wellness perspective, but simultaneously I think children are abused very frequently even in this era and we should continue to do everything we can to protect them from abuse.
I still see plenty of "stories of my childhood" on erotica websites, and I don't see anyone going out of their way to shut them down. Example: solotouch ( not my website, but a common example with many such stories )
Another legal example that comes to mind is the man who was convicted for importing obscene hentai manga. I personally believe hentai should be considered free speech but that is certainly not the case in the legal arena right now.
My point remains that I believe the world is very accepting of many types of erotica that I had previously thought would be highly frowned upon.
I will point out that under the miller test ( the main law concerning this in the US ), textual material that is artistically meaningful as writing does not constitute illegal writing. I myself shy away from writing any erotica describing explicit sexual activity of minors, but I still believe it to be legal if written well enough... I does though fail 2 of the 3 prongs on the miller test:
1. The average person would agree that description of explicit child sexual activity is illegal. ( fiction wise at least; I think accounts of childhood activity may be deemed acceptable by many normal folk )
2. Description of child sexual activity is patently offensive.
In the case of Lolita, for the most part, the book isn't terribly explicit in nature. It also ensures its legality by being an instance of well written fiction.
Other applicable law is "activity contributing to the delinquency of minors". So, it isn't unreasonable for something that is otherwise legal to be illegal ( for good reason ) if it is used to encourage minors to engage in sexual activity ( with adults or for the entertainment of adults )
Essentially, the world is very accepting of erotica in many forms. The world simultaneously has many laws to attempt to protect children while maintaining the general acceptance.