Quoted: Advertising equals money.
If an advertiser get their panties in a wad, it means less money.
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I'm really not sure I buy that. Were that true, I would expect to see less of the following:
1. Poop/bodily function threads. The blatant ones get locked, the crafty ones don't.
2. Manufacturer bashing. We routinely slam various advertisers. Sometimes it's warranted, sometimes it isn't. ASA used to get relentlesly bashed. If what you said was true, all threads bashing an advertiser would be heavily moderated, deleted or locked.
3. Religion threads. Sure the shit-stirring ones get locked, but there's still a healthy dose of good old fashioned bashing on a regular basis. No religion is spared, as far as I can see. Atheists bash Christians, Christians bash Atheists, both bash Muslims, etc.
4. Gay threads. I'm hard pressed to think of anything more "politically incorrect" than gay bashing, yet we do it CONSTANTLY. I would completely understand an advertiser becoming weary of being associated with homophobic members, given the political climate in which we live. Still, we relentlessly relish every opportunity to call something or somebody gay. The faggotry is strong with this one, gaydar has detected gheyness in your post, this thread is inconceivably gay, etc, etc, etc. Hell, I do it all the time. It's fun.
There are TONS of things allowed on this site. For the most part, the only topics that get locked or deleted are either blatantly awful, obvious trolls, or an attempt at beating a dead horse. I just don't see any evidence of catering to advertisers.