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I thought Sheela na gigs were weird, but your linked story on the Yap economy is weirder. However I doubt your  population control thesis holds water. The population of Ireland wasn't particularly high during the period in question, and Ireland was never as isolated from the rest of Europe as Yap islanders were. There is also no evidence that Sheelas had any particular monetary, scarcity or status value.

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Thu Apr 25th, 2019 at 11:29:30 AM EST
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