There are several good points raised here and I agree with mostly all of them.
No, I don't think there's anything reprehensible about it. Yes, there's good money to be made. What's the law in your area? i.e. is it full nude,full contact, full bar? That really might color my answer...
The two main dangers I see are very, very real though. The first has been mentioned... drugs. It's easy enough to say 'yes, its ok as long as you don't get mixed up with drugs'. Practically speaking, you are almost guaranteed to have it in your face, day in day out. That's a hard thing not to get "mixed up" with. It's a side-effect of the 'I work every night and make cash money'. It happens with all facets of the hospitality industry... restaurant, bar, club, strip club.
The second problem... and possibly even the bigger one, is that you (and I paraphrase someone I respect very much) don't want to get caught up "making good money." I am guessing you are fairly young... early in your education. You start working and bringing in two, three or four hundred dollars a night doing what you're doing... it becomes less and less easy to leave that and start working for "the man" for $18 dollars an hour... or even $50K a year...
Lastly... it really takes a special kind of person to deal with the BS that patrons of these places dish out on an hourly basis. The only thing worse than an asshole who thinks he's got a right to grope you... is a drunk asshole that thinks he's got a right to grope you.