To me it's neither. By all means, if it's your thing, go for it! (I see you already did). But genital piercings just aren't my thing at all. I can handle (no, I love) ears, nose, navel, and even sometimes nipples. But I can't get into any other kind. All I see is pain and discomfort when I look at them.
At the same time, I don't see anything negative about it, sexually. I don't think it would make you look 'slutty'. Just an individual.
Different strokes for different folks, right?