If you don't like it don't watch it.
It's 40's as there were burlesque shows in the 40's, in fact that's when it started. And it got popular during the war as it meant there was somewhere to go and have fun in a terrifying time.
Yes, it's stripping (no shit they take their clothes off!), it's also dancing (usually incorporating requiring a lot of talent, something like ballet), singing, comedy, circus acts etc etc.
The audience for it is also 80% women.
The shows are usually run by women.
Yes, a lot of them get their tits out and I can safely say I've never seen a performer sans nipple tassles. There are also plenty who don't. And there are a few male performers out there.
Burlesque itself means parody and that's generally what it is, although due to the popularity of it right now more nights are springing up which are stripping only. Just because someone is wearing a corset and nipple tassles does not make it burlesque. As always happens.
There is also a difference between burlesque in different areas. American and British burlesque is different for example, though due to the internet the distinction is blurring. Burlesque in the UK is traditionally more Music Hall, whereas US burlesque is more bump'n'grind. Obviously places like France are more dance orientated and can-can is popular. If you really want a performance that is really filthy, look up the origins of the can-can, it totally outstrips burlesque (pun intended)
Some women have found it empowering, obviously some haven't. Isn't that always the way? I've seen the effect it's had on myself and friends and cannot fault it. I can think if better things that are worse for women to direct anger at.