I'm gonna drop some truths here, fite me.
Is loli a form of pedophilia? Yes. It is. Its consumers are terrible people. They are not criminals, in that the law is only concerned with preventing the exploitation of actual children. Our bill of rights is exceptionally permissive of offensive ideas, but simply because we tolerate something to exist does not constitute a moral endorsement.
Lolicons are like people who abuse ritalin. It doesn't make it "not meth" simply because you're not cooking it from Sudafed and batteries.
The thing about moral arguments is that two people with diametrically opposed views can both be "right".
The only final decider at that point is violence. Which the left use (by banning). We don't, which is what makes us the more fun side to be on.