Manga and anime are filled to the brim with images of the objectification and exploitation of women. Should we be outraged? And if so, how much?
The Real Deal Answer: It depends.
Consider the following examples, starting from the least egregious to the most:
Berserk: Rape, rape and mutilation, rape and murder, oh yeah and more rape. Some people don't like looking at graphic rape scenes, no matter what the context, and that's fine. But context in this case is paramount. Yes, it's explicit and titillating. Yes, it's eroguro. But. Rape in Berserk is what all the bad guys do, and regardless of who is involved (even sympathetic characters), it never comes without terrible consequence. After Casca is raped by Femto, for example, she becomes a simpleton who cannot talk. Although watching her totter around does get tiresome, remember that her trauma is of monstrous proportions because Femto is supposed to be the monster to end all monsters. The trauma for Guts is palatable as well; he loved her for her strength and continues to act on her behalf in spite of her weakness, not because of it. You know he'd rather have the old, warrior woman Casca back. In later volumes, Guts, possessed by creeping evil, rapes Casca himself...and there is consequence for this as well. Now, even though her mind is nearly gone, she has enough self-possession left to loathe him for it, and the dirty looks she shoots at him appear on the manga's pages like clockwork. Key here is not how much rape there is or is not in Berserk; key is how it is understood. And there is no question that it is understood in this manga as a terrible evil, something that can ruin the lives of both the victim and those closest to the victim.
Rosario+Vampire: Say hello to a harem anime series that never lets an opportunity for a panty shot joke to go by unexploited. Yes, it's annoying, but the series as a whole is so cartoonish and stupid that it's hard to take anything about it too seriously, even the groin-angle shots. (Dude, the heroine's got bubblegum-pink hair!)
Tide Line Blue: This anime series means to make big, grandiose statements about humanity, warfare, and environmental destruction. In short, High Seriousness. But in the first episode, we are introduced to a girl who looks like she's about twelve years old--and is very pregnant. She gives birth at the beginning of the show. No explanation is ever given of how she got pregnant and who the father is, which in itself might not have been so bad if it didn't look like a child with a child. For the rest of the series, she's the perfect, subservient little woman who finds self-actualization in cooking and cleaning for all the men...with a newborn infant strapped to her back that never cries. None of it is remotely realistic--yet the show would like you to believe that it is. In other words, the degree to which this sort of depiction of a female character is offensive is directly proportional to the degree to which the series expects the audience to take it seriously.
Manga by Tezuka (take your pick of the ones published in English): Women in Tezuka manga are typically one-dimensional maidens, mothers, or monsters. Oh yeah, and he also has major mother complexes going in a lot of the stories. Yes, you could argue that Tezuka is just a product of his time. (Never mind that at the height of his creative production you also saw the emergence of the Second Wave Feminist 49ers--Hagio Moto and Takemiya Keiko, ya know, don't "count.") The problem lies not with the text itself per se but the context of its reception today. All of the (male) opinion makers will tell you that Tezuka is the God of Manga, and his work should be placed up on a pedestal where it is rendered immune from criticism. But I can't tell you how many times women have come up to me and complained about the misogyny that they see in his works. No one had ever told them about it; they were not warned; they're disgusted. All they ever heard about was how great he is now in the 21st century--and then they are told they are not allowed to condemn what they see now in the 21st century that offends them. This is a big problem. If in 21st century eyes the most commercial and slapdash of Tezuka's manga are to be received now as "great" works of sequential art/literature, why can't they also be seen as misogynist in 21st century eyes? Why is only the former a valid opinion? Why should history protect Tezuka from criticism if it's what is used to justify that selfsame protection? This is the place where we, as women, should be most outraged--the marginalization is not of the female character on the page, but first and foremost of the female reader who dares take offense.