That's a very modern application of those words. The very act of creating a statue is (true) objectification, whether it was carried out due to respect or solely to titillate. I'm not convinced that both cannot be true of the same statue.
And the modern concept of pornography means very little when framed in a pre-Judeo-Christian world. I doubt any of our loin-clothed ancestors shared the shame-based perspective 21st century humans have on the human body. No doubt some statues/drawings of vulvae were made because vulvae were fun things to interact with, and some were made because they were meant to be revered; I'd argue that it's possible for some percentage of those works of art to be motivated by both respect and eroticism, and further that the two motivations need not be considered so inherently at odds.