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imho, there is no reason to fear them at all...
surfers have and will always enjoy FREE porn. use the sites as a promotional vehical, learn how to build a business model around them, just like using a tgp/mgp or even a network of "free" sites.
i believe hustler has launched a tube site, to capitalize on the crazy traffic that can be harnessed for promotion usage.
the issue of stolen content on tube sites is a no-brainer, its wrong to use the sites that way.. but beyond that, make a tube site with some niched content and be f*ing happy.
peace
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