I disagree wholeheartedly with your take on the game's problem, primarily on the bounds that what you suggest is completely and utterly subjective. Just as you may feel that you have no desire to win fights "besides the game progression", I personally feel there are several reasons to do so, such as to see additional enemies and encounters that have further sexual content, to play the game itself and slowly unravel the story, to see more of the characters that may interest you and establish relationships with them, and also to unlock the gallery where game's scenes can be viewed freely.
Your point of view is incredibly closed-minded. Assuming that just because one example of sexual content can be immediately achieved from intentionally losing fights, that people would have no desire to play the game further because they already got their fix is... almost absurdly reductive. By your reasoning, why would anyone have played more than the first level of Super Mario Bros.? You've already experienced the movement and jumping the game has to offer at that point, surely you're satisfied? You keep playing the game for the prospect of more, more fun to be had, more varied encounters to experience.
Moving on to your next paragraph... pray tell, what evidence or facts do you have to point towards the game not being intended for "bottoms"? That the game "isn't going to attract a M/M audience"? Because we have a swathe of comments, ratings, private messages, and even a Discord full of people who fit that description and seemed to thoroughly enjoy the game.
You state that the main character reads as asexual... and feel free to dispute me if you believe otherwise, but it appears to be because you believe the sexual acts they engage in only result from losing a fight or are otherwise non-consensual? Well, there's the fact there's a handful of scenes that show active sexual desire, such as wearing both the cursed and enhanced undergarments, willingly staying longer being milked by the bandits, an ashamed sexual desire in losing the tutorial fight... as well as the fact that the player can willingly strip down and present themselves to their enemies, and in the vast majority of cases can enjoy getting off and orgasming to their advances before defeating them and continuing on with their adventure.
Finally, you say that "nobody wants to play the game as an adult game, they play it as an RPG.". To that I ask, what even is your definition of an "adult game"? Judging by your above comments, you seem to be espousing that the sexual content of the game is set apart from the RPG nature of the game because you only get it from losing / failing / 'not playing the game', and to engage in one is to not engage in the other?
If you feel otherwise, please correct me, but again this stance seems so incredibly reductive. It ignores such things as the sexual imagery and enemies, the sexual intercourse you can engage in mid-battle, the sexual scenes you can stumble across, or engage in with items... or, as I mentioned to KiptheOtt above, how the sense of failure / punishment actually enhances the sexual pleasure of submission to a great many folks.
Ultimately all of what you've said can be considered subjective opinion of course, but you've put it across in a very certain and self-assured manner, so I trust you won't mind me retorting in kind. If you have a counter argument to what I've said above, by all means feel free to share it along. I'm almost always willing to engage in open debate.