I can't think of any other public events that display that level of sexually explicit themes, at least not any that don't face the same scrutiny. There are LGBT kids and allies that should be able to comfortably attend at least during the day. It makes it hard for the parade to be what it could be, a celebration of the LGBT community.
I do think they should consider some age restrictions or better yet time restrictions for super sexual attire. Pride is a commercial thing at this point and most local governments are heavily involved in the organization of the parade. I think the issue is that pride parades, that happen publicly and should be somewhat suitable for children, are a little out of pocket with the sexual stuff.