Hmm, I think it's fine to mention it because Harvard is going to know! They're going to know when you fill out on your application: Father Occupation: Director of Major Porno Company and I mean, he's right. It is business. (no matter how biased I am against this...)
But you can't just list it like it's no big deal like that...Because it is! It's going to give a start to the admissions reader. It's like saying "My cousin was one of the people that was responsible for 9/11..." It's going to be very very controversial. That's my one advice. When readers read that, they're not going to understand or take it the wrong way. So elaborate but make sure you point out the fact that it's your dad's occupation, talk about other people's opinions on the matter, and refute it. You grew up with this "mark" of your dad being president of such a company.

Definitely unique and makes you different from other applicants.