To be fair, it looks like crap regardless of the rating. What's going to disappear, really? A little blood and a few F-bombs. Big deal. The comics worked fine without it. Far from the film's biggest problems.
From the article:
And yet now the plan is to soften the picture to a PG-13 so that if Venom is a box office hit and if Marvel Studios agrees with what Sony did with their picture and if Tom Holland is available then maybe they’ll get some MCU characters in a future installment?
Cute explanation, but it's bull. Sony's making this move precisely because it fears the movie won't be a hit. If not enough manchildren will see their dumpster fire, actual children should be much more reliable. Hell, it may even pan out. Kids seem far more excited about that last trailer than adults.