It sounds like they'll basically continue to allow tasteful nudes, which is probably about half their content. So they're only killing an enormous fraction of their business, not the entire thing.
Actually yeah, from the content creators I know and have talked to, as long as you’re verified on the platform you can still post whatever. The assumption seems to be that solo stuff will still be fine, but maybe not the actual sex.
But it will still effectively be a crackdown on marginalized sexualities seen as “deviant” (aka the trans and bdsm communities). That was honestly the majority of the sexual content on Tumblr back in the day; they were on Tumblr because the mainstream porn industry doesn’t create a space that isn’t exploitative and fetishy.
The same is true on OF - trans men and women making porn are way disproportionately represented in the top creators lists. Sex work is how a lot of trans people have had to survive, and OF has made sex work much safer than it’s ever been. It would be a shame to lose an outlet like this — tempts me to go out and create one specifically for porn.