It is about lessening sexual pleasure and removing the child's autonomy. It's entire purpose was to mark you as subservient: https://www.ancient-origins.net/history-ancient-traditions/h...
I would love to see an ethnography on the topic.
You get (most values of) the "girls version" around the world, and it's basically equivalent to chopping off the entire top half of your dick. The _important_ part.
Totally not in favor of either. But there is no equivalence here.
Men's pain should be recognized and not minimized.