IPFS isn't a blockchain, and you only receive data you request - it's pull instead of push oriented. So I don't believe it has any problem with this.

IPFS is not an automatically distributed file store. Just like torrents if someone wants to host a petabyte they can. That does not mean anyone else will be mirroring it.

+1 to Setra's comment. Regarding illegal content, IPFS gateways have a blacklist https://github.com/ipfs/infrastructure/blob/master/ipfs/gate...