It would be DELIGHTFUL if we lived in a world where, not only were men and women equal, but there had NEVER been a centuries-long history of male-favoring inequality. Sadly, we do not live in that world - we live in THIS one, where the sexes are not socially equal in any number of important ways AND profoundly-lopsided inequality has been the default operating model from the start of recorded history only BEGINNING to change in the midpoint of the 20th Century. Like it or not, those are the facts of the world and all questions about sexism, sexuality and sexual-equality can only be answered in that context.
What that means, in the narrow terms of your question, is that "sexual degradation" means something ENTIRELY different, at all levels, for men than it does for women. Historically, the VAST majority of power-structures from both actual "institutions" and social constructs were designed to confer power on men over women, and as such the degree to which sexually-exploitative depictions of a person/character can "degrade" said person/character are VASTLY different. Quick real life example: Channing Tatutm, the actor, was a male stripper before getting into films. Most people have NEVER heard this, and it NEVER comes up in regard to his "suitability" for serious film roles. Meanwhile, screenwriter Diablo Cody's earlier career as a stripper is UNIVERSALLY known and used as a knock against her work constantly. In other words, YES - sexual exploitation (word choice deliberate - I don't regard exotic-dancing as inherently degrading) of the male form EXISTS... it just doesn't MATTER even 1/10th as much.
A similar poster advertising an "Uncharted" game with a cheek-level closeup of Nathan Drake in assless chaps would... well, it would never EXIST first and foremost, but if it did it would be regarded as a silly bit of kitsch and laughed off quickly; because men are still generally seen as being "in power" and thus sexual-exploitation of the male form is at worst a funny joke (see: the self-aware silliness that was/is The Chippendales.) The "Soul Calibur" ad, on the other hand, is YET ANOTHER thing reminding women that they're most/only important facet is their bodies and sex appeal in a society that tells them that every day anyway.
