Shishou Hatsutaiken - Mada Tsukiatte Inai Daisuki Na Ko Tono Hatsutaiken Ga Saikou Sugite Kintama No Nakami Karappo Ni Sarechatta - Oneshot

[MangaDex]

 

[spawnknight]

Oh hey, it's the canon doujin of them having sex for the first time!

On the fence of whether I should read it or not, though...

 

[Miorioff]

I can kinda understand why pedos are attracted to kids, it's innocence and all the rest.

But who in their fucking broken mind likes watching two young kids have sex??? It's absolutely disgusting fetish

 

[positivemangawitch]

So fucking hot, i came so hard

 

[Heika]

I can kinda understand why pedos are attracted to kids, it's innocence and all the rest.

But who in their fucking broken mind likes watching two young kids have sex??? It's absolutely disgusting fetish

Liking loli and being a pedophile that likes real children are quite different things.
In manga and anime, a loli's mentality is generally far too adult compared to that of a real child. They understand things that children don't and have the mental capacity to think in ways unlike a child.

If people are actually willing to believe them, then ask lolicons if they think real children are attractive, and I guarantee that 90% will tell you that they have absolutely no attraction to real children.
I think you're right that it really is about the innocence. The fetish is much deeper than 'looks like kids'.