That's not a bad idea. Although that would mean they'd have to make two copies of the same game no? The "Rated" one and the "Unrated" versions.
It's easier to do that with movies, since they can just film it all and edit out all the graphic parts for the Rated one.
I suppose that's the question.
If you look, those UNRATED movies are not sitting next to the RATED version.... They just don't exist.
The RATED version, I suppose, is the theatrical version, and then when it is released on disc they don't bother doing a theatrical version... or it's included on the disc as a "bonus" feature.
Sooo.... when Obsidian releases demo videos without graphic content: Theatrical rated version
When the game is released on disc: Unrated Directors Cut
Or put a censored version option on a second disc in the package...
Sigh...regardless... This is unlikely to ever happen... even thinking about it makes my cockles weep.