I'm all for child protection too. It can't be the parents responsibility though, for purely pragmatic reasons - i mean are there really any parents in the world who are able to put a filter on their net connection their kids can't get past? I'm 99% sure by the time i have a teen son, he'll be more tech savvy than me...
Now if they could do this in a way that's open and honest, to allay concerns such as your point above about photo sharing sites. But i worry that it'll be a black box, and people with legit sites will one day discover that they've been blacklisted with no recourse.