I don't disagree with what you said except I must have missed the part about the slavery, rape and torture. The entire ride was fiction, it was an auction for a "wife", presumably legal, if you discount the fact that a pirate would buy anything that they could just take. I can see adults going, at least semi, in the direction that you added to the story-line, but, I seriously doubt kids would ever see it as anything other then a cartoon gag.
I don't think it is bad that they changed it, but, lets keep the imagination to a "G" level. I don't believe a single child ever left the ride with wench raping on their minds.