Personally, I will always have the opinion that nothing is too "risqué" for television, radio or publication. There is always a choice. For those worried about their children viewing something that they PERCEIVE to be objectionable...well then, I guess parenting is in order.
The FCC has no business censoring broadcasts. And, as morality is formed both in an ethics as well as an opinion forum...the only censorship should occur on an individual level.
Two things will adjust content...market share based on how an audience responds (TV, Radio, and Print are indeed businesses, not public welfare institutions) and the ideology of the business's ownership; the former more than the latter.
This is not "The Clockwork Orange." Folks are free to make their own choices. One such choice is the difficulty attributed to raising a minor, and the choice to take that plunge. When you force your own morality on others to benefit yourself you are dangerously close to that "It takes a village" crap...