About 6 ago I was dragged along to a burlesque show by some friends, fully expecting to hate every second of it. It was a very high end production in a west end theatre, I do know that it can vary in quality enormously, just like any performance art.
I have to say hand on heart I was blown away at how witty, entertaining and artful it was, as well as being visually stunning and brilliantly choreographed and nowhere near as seedy or tacky as I'd imagined. Everyone involved in the production was very talented - that much I would not dispute.
The audience was not what I expected either. It was a huge cross section of people, young and old, hipsters and art student types, respectable middle-aged suburban types who looked like they might just as well have been going to the opera or an Andre Lloyd Webber musical, lots of gay people both male and female and (lots and lots of) slightly earnest, architect/advertising types, the likes of which have bought up all the crumbling Georgian houses in Hackney and Dalston. You know the ones I mean. The only thing they all had in common is that they seemed overwhelmingly middle class.
No leering saddos in dirty raincoats, no loud city boys heckling and waving their wads and ordering more Moet. It very much had the atmosphere of high end cabaret or theatre, as opposed feeling like a seedy strip joint or a branch of Hooters. I was pleasantly surprised by that.
I am glad I experienced it once, but I don't really understand the cult fascination with it, or how it's become such a 'thing.' I also struggle with the idea that ere supposed to shun those who ogle at page 3 girls or go to pole dancing/lap dancing bars because that is a BAD thing and exploitative and misogynistic, but saying that it's ok to be titillated by Burlesque because it's art, and art is a GOOD thing.
One is enjoyed for the 'PHWOOOAAARRR' factor by white van man, sad middle aged suited types lying to their wives about why they are late home while the other is mostly enjoyed by pretentious Guardian readers in silly glasses pretending to appreciate it an ironic way, but really they are both all about the tits and the arse cheeks.
In conclusion, now I've seen it, I do think that burlesque (done well) has more in common with the ballet, caberet or Cirque Du Soleil that it has with Spearmint Rhino or whatever it's called, but to say that it is 'empowering' is bollocks. Unless you consider it empowering to sexually tease and titillate someone and then walk away untouched and unsullied, with no cash shoved down your thong. 
As for the thousands of ordinary women (who can't really sing or dance to a high standard) buying a nylon corset and some nipple tassles and wriggling their bare arse on camera and posting it on youtube, thinking they've finally found the holy grail of self esteem and self-expression, I am embarrassed on their behalf.