I went with the first option, but it's a deeper question than a quick poll answer can give any clarity to, and my circumstances are pretty unique. E.g. All the "porn" I consume is freely available on Youtube and any social media, almost entirely posted by the, I guess, "subject" person or with their consent. It's also freely available irl, sometimes organically just walking around town. Does that even count as porn? If not, I don't consume "porn" at all ever, the kind that involves nudity or sex, in fact I never have in my life, not out of any moral stance but just because it has no interest for me. I still fap regularly to what works for me.
In my case, the girls involved for the most part don't even know that what they post, or sometimes just what they're doing when I'm around, is used the way I use it.
From a personal perspective, due to the nature of my particular fetish having nothing to do with sex or nudity, the constant consumption and reinforcement of it over a lifetime has ultimately led to me losing all interest in actual sex. I can't have sex without pretending to be somewhere else and doing something else so it just doesn't work. That could be viewed as negative if I had life goals involving marriage and kids. But having chosen the hermit pathway, it's not a problem.
Where it comes up as an issue for me is when I view it as an addiction. On it's own enjoyed in moderation, it's fine. When it reaches a point that I "have to" do it or I'll go nuts - it's a problem. Similar to the addiction to ice cream or beer.
The other issue with it for me is broader and harder to explain while keeping the fetish cryptic. But basically every attractive girl I see can fit into my fetish easily. I've I guess trained myself so well for so long that when any attractive girl dresses a certain way, which is basically the norm in Summer in any western country, I can fit them into my deepest fetish, that if I fapped to it would be over in seconds, instantaneously with almost no imagination required - I don't have to imagine them nude or anything - everything I need is there as they are in the moment I see them depending on what they're wearing. So me just seeing a random attractive girl at the supermarket in Summer wearing what many girls wear I assume feels the same to me as if any other guy saw them having sex naked in the same supermarket at the same time. Which affects the way I behave - like I pretend not to look at them for example. It feels like I should be ashamed to. Yet one little change to what they're wearing and that all changes - I feel nothing and can interact with them just like everyone else. With the girls I know who are oblivious to all this going on in my head when I'm with them, life is a bit weird. I'm perfectly normal with them sometimes and weird other times and while I know what's behind that, they have no idea.
On the plus side, it's a pleasure that's free, feels good 100% of the time, and seems to have less downside than say eating a tub of ice cream to feel good instead. The subject girls are mostly completely oblivious to it even happening, and the few that are aware just turn a blind eye to it and carry on exactly the same as if they were oblivious. The downside is it can affect the way I behave with women I find attractive and can be addictive. But I think I can deal with those. On balance, I'd say it's positive in my case. But my situation is far from common.