Playboy is switching to a non-nude format, like Maxim or FHM. Are those magazines even still around?
I think its mostly just a publicity stunt to try and delay the inevitable. Very few people are going to start buying playboy because there is no nudity. Probably a similar number will stop buying it for that reason so thats more or less a wash.
Playboy is claiming porn and nudity is so available online that by now covering up it will become about the women and articles rather than porn. The truth is they are losing money and they can attract a wider range of advertisers by not doing nudes.
According to Cracked, Playboy's unique online visitors quadrupled when the online portion ceased all that nudity. Probably because they were able to show up in more work-friendly searches now.
At the same time, they had long built an artistic flavor to their photography that will be a bit of a bummer to see vanish. But there are other places online that do it pretty much just as well. Met-Art comes to mind.