This is actually easy to debunk.

Timing. MasterCard/Visa ditched Pornhub subs the same month after the story about csam went public. It had nothing to do with chargebacks.

Then they also ditched Pornhub advertisement company. Not relevant to chargebacks.

Read https://www.reuters.com/business/finance/mastercard-visa-sus... for how it went down.

And of course big adult sites including Pornhub are not stupid enough to use anything mentioning "porn" on bank statements.

And if you talk to actual programmers working in adult industry you will learn payment processors have special strict rules for adult industry. Literally because of moral standards. See https://news.ycombinator.com/item?id=24291790 where it is discussed.

So no. It was not about chargebacks, it's about making money from child rape videos. Some people have values. Corporations are run by people who have to face their kids and spouses.