It is important to understand that the original doctrine was that the human soul is uncreated and non-birthed, as Joseph Smith taught. See Blake Ostler's podcast number 92 for details. This is important because the tradition of a "regression of gods" with no Head God (no First Cause or Supreme Being), is largely based on the later idea of "heavenly parents" birthing the souls of humans, which Joseph Smith never taught. This idea of actual fleshly divine parents birthing our souls was heavily influenced by Brigham Young's false teaching that Adam is God the Father.
We do know that based on Joseph Smith's letter to Nancy Rigdon, and other aspects of his teachings, that he saw the realm of the heavenly beings as a realm of sensual joys and pleasures. He would have been aware that the angelic beings (or what Michael Heiser calls the lesser gods in Jehovah's Divine Council), were capable of sexual activity as we see in Genesis 6: where some of these divine beings engaged in sexual activity with mortal women according to the Bible. This however does not mean that Joseph Smith believed that the gods required physical sexual intercourse to reproduce the divine genus of the gods. What he meant in D&C 132 that the gods "bear the souls of men," may not have meant something literal as in actual procreation. For he may have had the view that the noomatic beings in heaven do not procreatively reproduce like humans but nevertheless are capable of sexual Joy like the lesser gods or angelic beings described in Genesis 6. Those divine beings in Genesis 6 are able to reproduce with mortal human women but presumably are not ab.e to procreate with their angelic kind. So I think it's more likely that Joseph Smith believed and taught that those humans who become exalted gods simply "bear the souls of men" the same way that Father-Jehovah expanded his genomic image: which is by choosing from the intelligences those who would then become humans and given an opportunity to receive the givine genus of immortality through the nooma; so that each human who becomes a god would be further replicating the divine gene of Jehovah, which genus began with the firstborn of many divine brothers and sisters (gods), through Christ the firstborn of the divine genus.
