First, it's not outright censorship they are not remove swear words or prevent people from using them in their videos but instead they are demoting videos for having swear words in them. Why not just have them marked as having vulgarity or sexually themed videos? Instead it's just acting as if the videos don't exist and essentially removing them from lists on the site. They won't do the censorship thing outright but they will basically make them go 'underground'. They could do all sorts of things to make these videos unveiwable by those that don't want to see it.
First make it so the display picture of the video does not include any sexually themed picture of the video.
Second just have it highlight a video or something to mark it as having vulgarity.
Why not do any of that? I just think they're trying to remove the videos that would prevent them from making more money on the site.
Anyway I think its ridiculous the way they are going about this.