I don't think it should be banned, but I DO think that there ought to be more warnings about adult content and objectionable material, just out of common courtesy. Some people are into this sort of thing, but I think that most have a bestiality fascination because it is so repulsive to people. (Kind of like how some people look at photos of accident victims, rotting corpses, etc.)
This site wouldn't be illegal throughout the world. I am not condoning this website, bestiality, or animal cruelty, but it's up to whatever country's government to handle what's going on within its borders. The domain name seems to be registered through Cananda and I'm not certain about Canadian laws. What matters most from a legal standpoint, however, is where the servers are located.
I am an adult within the US and hate that the government has tried to ban kinky porn. I don't think that children should be subjected to that kind of material, but that's what age verification systems (and keeping your credit card safe) are for.