I think that this should be banned entirely, that is so harmful to anyone, regardless of their age, and often in certain families and cultures, "adults" do not have the consent and power which other adults might have. Many would be pressured or forced into these forms of "therapy", or so heavily influenced by a homophobic and self-hating upbringing, that they will continue to harm themselves.

Talking about "profits" and letting adults decide if it is harmful or not, this seems very parallel then to drug dealing (but drugs are illegal because of their harm).
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H.U.G.S.- Helping Us Grow Spiritually