Why risk the bad PR of being on meta when you can be on your own instance that any other instance can access.
It’s like email. People don’t hold Google responsible if someone emails them with profanity.
I expect there will be sanitised versions and free for all versions. Moderation will differentiate but it may be that it’s send regulated, like porn on NSFW instances.
One thing I’ve noticed is that I’ve blocked the NSFW instance from my feed and any comments from there are blocked too. So users from instances with a lot of NSFW content may find they have less engagement. L it may be that more regulated instances have less freedom of speech but more people to listen.
Likely the realiry will be somewhere in the middle.