It was in no way to demean, poke fun or sexualize the act of men tying each other up and dressing in leather. It's meant to promote the comaraderie and brotherhood of the activity. So here we have a very benign image of men in leather pants and cuffs.
I've since lost the source file for this (it was even in color!) but I managed to dig up a black and white laser print of it. I think it looks rather striking in grayscale however, so I'm not too worried.