The strangest thing is that Emma Watson claims to be confused about the fuss. She is an incredibly smart woman and I am surprised she doesn't get it.
She is a feminist and she is correct that the end goal of feminism is freedom of choice for women to do whatever the hell they like with their bodies.
The other side of the coin is that we haven't reached that end goal yet. We are still oppressed and unable to wander around topless like men. We are still oppressed by the endless overwhelming emphasis on our appearance that far exceeds that applied to men.
While in this transitionary period, not all decisions on what we do are equally feminist and supportive of the feminist cause.
Making money out of posing topless for a magazine isn't a feminist act. It might be liberating for Emma, but adds just a little extra to the oppression the rest of us experience on a daily basis.
So yes, she is a feminist, yes she should be able to go topless if she wants to, but unfortunately in the current climate, yes, posing topless for money is an antifeminist action.