There is absolutely a difference between private and public.Private or public, there is no difference.
In a private company the owners only have to hold into account the customer, which, as we can see from the OP, includes (a lot of) young horny men.
In a public (publicly traded) corporation the management(not necessarily the owner) is beholden to both the shareholders and customers.
Going public means that you sell a part of the ownership of your company to the public at large. Investment companies who represent individuals or individuals on their own. Those individuals are often not gamers or even of that age. They are people who buy through their investment company(Blackrock is a famous name) and are told by said investment company that these shares are good ones(retain or increase in value or pay out a good dividend). They often have zero interest in what the company makes.
As such, the corporation is now trying to juggle the interests and desires of both the customer and the investor(the public at large), who both have different views of what is acceptable.
Thus, while a customer wants their game to be rather sexualized in nature, the corporation will tone it down anyways because thats not how investors or shareholders see it. ESG(which I expect to go out the door soon-ish) plays a role in it, its investors who want to 'prepare' a company for the future. That, again, is a view that is driven by the public(or the perception of what the public or even lawmaker wants, not the customer).
If the shareholder is displeased, the shares will be sold and lose value.
And btw, you can hold a minority share and still retain power. The founders of Alphabet/Google have 51.5% of voting rights despite only owning a minority of shares. They split their shares in three categories; Class C(6.8 billion shares) has no voting rights, Class A has voting rights(another 6.8 billion shares), while the 800 million class B(of which the founders own 85.5%) shares have 10-1 voting power. Its not an uncommon to retain power like this, in a publicly owned corporation. For the investor, the voting rights dont matter. But if displeased, the investor can still sell and if they sell en masse, the share loses value. A lot of value. Thus the corporation has to hold the views of the other shareholders into account, even if those cant really make any decisions.
Going public means you are owned by the public, even if that doesnt mean direct control.
The game doesnt need more sex or sex scenes, I dont feel like they'd add anything to the story, But I expected to see more nudity in general and things like prostitutes on a lot of corners in CP2077 or far more sexualized advertizing(not necessarily nude), though some ads already are suggestive.
Its a world without (m)any rules and I would expect advertizers to fight eachother for the attention of the customer. Which already happens to an extent, ads do their very best to jump out and draw your attention. But I fear that they followed public opinion and toned it down. I fear that the sequel might be toned down even more. Which would be unfortunate, its supposed to be a cyberpunkian dystopia, make it one.