You are correct. Cholesterol is the base for sex hormones. By reducing our cholesterol levels, they are reducing our natural sexual bodily functions. I couldn't find the article in my quick search, but I remember reading somewhere that the vast majority of men with erectile dysfunction are on statins.

edit to add: According to The Perfect Health Diet by Paul Jaminet, the AMA's official number of what determines "high" is set too low, so the AMA is pushing people with normal cholesterol levels onto statins, too.