The censorship is done in a manner that doesn't prevent the message from being delivered. The only thing it accomplishes is the obfuscation of a word. It doesn't stop you from knowing the word, or interpreting the word, or being affected by the word, it only acts as a facade of moderation, it's "Moderation Theater".
It's been implemented with all the intent of censoring the speech, but only censors the word, so they're either implementing their censorship poorly, or they're implementing it disingenuously. Ask the moderators which, but the only effect their attempt at censorship has had is to limit legitimate speech as evidenced by the comment with the broken links showing the collateral damage.
Although it stifles discussion about legitimate issues involving said word, it sends a clear message "that language is not allowed here", which might be reassuring for some users, even though the censored word or intent may still be blatantly obvious.