I was about to respond "so?" but maybe my tastes are just too liberal...
Honestly, there's a lot of stuff out there that's exploitative. People use the term so liberally to label shows with any amount of gratuitous sexual content or violence, but fail to see that a lot of the "classy, mainstream, popular" shows out there are just gratuitous. For instance, isn't Dragon Ball Z basically male power-trip porn? Isn't Haruhi Suzumiya a show that wants to have its cake and eat it too with it's "self conscious" nature regarding otaku fandom while still completely enjoying the fact that Mikiru is just there to squeal in moe manner and send male moe fans' hearts aflutter?
Someone in here mentioned that Perfect Blue is exploitative but is saved by innovative direction and intelligence.
And I totally agree. Perfect Blue is no different than your typical Italian Giallo film but in that genre there are standout examples of intelligent, emergetic filmmaking and Perfect Blue would be considered a standout as well.
In the end, most shows and movies are exploitative and gratuitous in some way or another. Hollywood movies are some of the best examples. We get copious amounts of wedding porn, SFX porn, gross-out "comedy" porn, and audiences--FANS IN THIS FORUM--eat that stuff up. And they're all totally gratuitous in how they present these elements. But for some reason people have this conception that your typical shiny Hollywood movie is somehow classier and more acceptable to watch than some Grindhouse film.
The only difference I see is that Speed Grapher doesn't pretend to be classy when its not, unlike some anime out there.