Historically, I would think the obvious reason is that the prime purpose of sex is reproduction and that relations
Historically, incest was common to keep the money or power within the family.
that relations with relatives increases the chance of generic disorders in children.
I guess that's only partially true.
- Mixing genes up (least-incestuous procreation) will keep most disorders alive and they will only show from time to time.
- Narrowing the gene pool (incestuous procreation) will cause disorders until the responsible genes dies out or the family line dies out.
I'm not sure which of both versions causes more disorders in total.
I think that the idea of disorders is a major moral issue. (Though in the past, there might have been a shift in the awareness of disorders towards incestuous procreation.)
the power differences can be massive.
That might be another big reason.
A hint for that is that also not blood-related relationships like between a person and its step-parent or godparent.
Well, I think that incest is most often seen as sexual relationships with minors.
In that regard, I totally agree. That is non-consensual without exceptions as the minor isn't capable of realizing its situation. They're always in the position with less power.
Though the same applies to relationships between an adult person and a minor who aren't blood-related.
So talking about that issue, I think you should distinguish between incestuous relationships with minors and incestuous relationships between consenting adults.