In terms of the act of stripping/viewing stripping, I don't really think there's anything that inherently degrades either party involved. As long as you believe sex and sexuality aren't shameful and degrading by nature, then there's no real reason to treat any type of sexwork otherwise.

On the other hand, if you picture a common (stereotypical?) stripclub scene; shady area, working for the man, women which are hard on their luck, and sleazy regular customers-- then yeah, I can totally see how that becomes a degrading environment. I don't think it really is inherently connected with stripping though, just when you have people working to make ends meet in something they'd just as soon give up if they could. Add to that the fact that those environments will get exploitative in recognition of that fact: that people are stuck there. Then you're gonna be dehumanized and devalued. It's an economic symptom.

Someone working in a cubicle farm could be prostituting themselves just as much as any stripper, but because the latter deals with other stigmas we're just acutely aware of it.