My answer is No.
The "genuinely harmful content" is minimally harmful compared to the damage censorship can do.
The problem is always with people being dicks, not the information. E.g. a jilted lover posting porn videoes of an ex is only a problem because the lover will deliberately attempt to show them to the ex and the ex's social contacts (and even that is only harmful because some people are judgemental bastards. Yes, some people like scat, get over it), so target the lover with harassment charges rather than making the information distribution illegal.
I'm a bit of a freedom of information purist, I think a world with 0 censorship would be better than the current one, as the censors will always be tempted to censor more and more things to advance their interests. The maximum badness from zero censorship is much much lower than the maximum badness with censorship.