I'm not reading it, but I have been looking at a very funny chapter by chapter review. I've read about 10 chapters of the review, which is about as much as my godliness can take, so I'm stopping now. But I feel like I've got a pretty good handle on the writing style, the characters, the plot line and the issues it raises.
Five thoughts on FSOG so far.
1. This is really similar to Mills and Boon, except with poorer writing and kinkier sex. Nothing to see here guys.
2. This is FanFic. So, so much is stolen from Twilight.
3. Although problematic, the BDSM thing isn't the biggest issue for me*. Bigger, I think, is the nature of the relationship. He wants to control every aspect of her life - her clothes, her finances, her food, her friends, her diary, her facial expressions... This is sick, stalker guy behaviour. Why do readers find it desirable? But I guess that there is precedence for this in popular music. What's creepy in real life is romantic when the Police sing it (Every breath you take I'll be watching you...)
4. She isn't allowed to look him in the face without permission. Who made him god? (Or does he think he's an ancient Persian king?)
5. The picture it paints of female sexuality is warped. For our heroine, sexual desire does not exist apart from him. She never felt a twinge of anything till he came along. At age 22. Huh? But this is not unusual in female fiction - Twilight, some Mills and Boon etc feature it. It makes it so that the guy owns the girl's sexuality which is yuck.
My very biggest worry is that aspects of #3, #4 and #5 might be attractive to the people on the far right of complementarianism.
* But maybe it would be if I read on.