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For a site like Porn.com it may be a good move. They compete with other sites that have similar content which is the closest comparison you can make to Netflix if you want to go down that logical road.
For sites that a offer something more unique, a lower price point might not work out so well.
Piracy aside, a quality porn paysite should be a unique product so the standard price point calculus that includes competition doesn't really apply. But as I said earlier, sites that are similar might benefit from this.
When things are working properly, porn sites should compete with each other on content, not really on price. Bigger sites within the same niche may start competing on price but I only see that among the really big sites.
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