Let's face it - Hefner's life is so far from normal that he's just dead inside.
In order to get any sort of thrill, the sex has just got to be weirder and weirder and the hard on that is the gift of viagra. Him watching Gay Male Porn doesn't surprise me in the least.
It's simply the law of diminishing returns in terms of a sex life.
If a god gives you a brand new corrvette, you are thrilled speachless. If god gives you another brand new corrvette the next day, you are thrilled. If every day god gives you a brand new corvette, the thrill wears off and you end up wondering where you are just going to park the damn things.
In the case of Hefner, he has banged so many BEAUTIFUL women over the years that it no longer means anything to him. He tries to recreate the thrill of the conquest, but he can't. The sex scenes get even more over the top, but nothing works. Nothing arouses him anymore. He's 78 years old, the thrill is gone, and he'd trade it all to be 20 years old again.
And he knows in his heart of hearts that NONE of these women would give him the time of day if he were not Hugh Hefner and they could use him to further their own devices. (But hey, usery is a 2 way street in this case isn't it.)
There's no sex left in the universe that turns Hefner on.
As Ron Jeremy once said on 102.1 FM I recall, "This is sex to me." - referring to the Sushi that Humble and Fred had catered in for him.