I think privilege exists in many spheres and that almost all groups experience some privilege and some oppression. (Okay, except for rich, white, heterosexual, Christian cismales living in my town.) And I, for one, am pretty damn convinced sexual privilege exists.
"Anything can be a weapon if you're holding it right." --Ludo
I was somewhat sympathetic to the opposing argument for a while (I hated the way people went about making it, but I could kind of see their point), but in the end I find myself agreeing that sexual privilege is a real thing. I've read that sexual privilege doesn't exist because there isn't any institutional oppression that directly targets asexuals, but I don't really see why that should matter. Just because we're invisible (which is a kind of oppression in itself, anyway) doesn't mean that cultural norms can't hurt us. The only reason I can see not to count that as a kind of marginalisation is to exclude us with semantic tricks. Which is obviously a pretty shitty reason.