To me it seems that they have banned advertising porn with Adwords (in general), basically to let them be charge about the porn ads. Although it's their own policy, not a law, so they can be as flexible as they want unless it's againts some real laws.
"Models in sexualized poses." I don't know any softcore that wouldn't do this. Although it's in the restricted category, not banned.
But yes, you can still advertise softcore with Google.
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