As someone who has actually done porn, I can confirm this. It optimistically works out to more like 200 an hour (for women), or at least that's how it was about 5 years ago. Obviously rates varied based on how rich the company was, but you couldn't be picky because work was spotty. I once only got paid $200 for an hour of caning which left my butt bruised for two weeks.

The worst part is that it's a lot of work to find constant work unless you have a really good manager or you're famous. Sure, the hours are short, but I found that having stable hours and not having to live shoot pay check to shoot pay check is preferable, even if it's a considerably lower hourly wage.

(Much like contract programming work!)