The Philippines is one of the last countries in the world where the Catholic Church has a dominant voice in politics, so laws attempting to enforce morality are a fairly common thing. For example, it's one of the only countries in the world where divorce is illegal. As a result, many couples today either don't get married in the first place, or else are in a long term live-in relationship with someone while still being married to someone else.
Cybersex in the Philippines was already legally considered to be a form of prostitution before this law was passed. Now it would appear that the punishment for getting naked on a webcam will be harsher than that for having actual sex for pay, which will only serve to drive women away from the relatively safe jobs involving cybersex and into the more dangerous work of actual prostitution.
Just how much more severe is the punishment for cybersex? The fine for prostitution is 200 to 2,000 pesos. The fine for cybersex is 200,000 to 1,000,000 pesos. Average annual family income in the Philippines is 206,000 pesos as of 2009.