Contemporaneously

1. Does "contemporaneously" in the following text mean "today (nowadays)"?

2. Does the blue "it" refer to "the possessive gaze"?

Text:

While in 1975 Mulvey considered the possessive gaze, which is founded on structures of voyeurism and fetishism, as male, contemporaneously we find this gaze dispersed more generally in our cultural consumption of images, rather than being gendered in black and white binary terms. It is the vantage point from which we consume images, whether these be images of desirable female bodies posed as available in advertising or art, the fetishised black body in Robert Mapplethorpe’s series of photographs Black Males, or Richard Billingham’s photographs of his family in the series Ray’s a Laugh, which depict his alcoholic father and overweight mother in scenes of poverty and deprivation, scenes which satisfy the viewer’s desire for an authentic realism, a bird’s-eye view on the abject otherness of this family on the margins of social acceptability.