I don't find it misogynistic. Weighed against the maypole mating rituals of the kids in the musical, this is an adult to middle-aged cartoon version of sex, it's meant to be slightly embarrassing as everyone in the dance is slightly embarrassed.
It's got a lot of olde fashioned tropes buried in it... the novelty number from vaudeville, the harem dance from the travelling carnivals. But does anyone even know what a Shriner is anymore?
