Its main problem (apart from the plot, maybe) was its implication that the cause of the protagonist's submissive/masochistic tendencies was her dysfunctional family, alcoholic father etc. etc. Just seemed like the being spanked over a desk was a progression/substitute for cutting herself, which really isn't a good way to present the lifestyle. There might be cases irl which panned out like this, but they certainly aren't in the majority.