I definitely get where you're coming from with this, and the intention is right.
But, Devil's advocate...aside from children, what if my friends and family want to see the dick pics you mention? I don't, but I can hit block. It's not up to me or anyone else to decide what others see or partake in. If they choose to delegate that to be, great! I see a real use case for the ability to subscribe to another's mute list in the future. But I personally don't feel the default should be to remove content without user intervention. Perhaps a part of onboarding in the future can include a way to subscribe to community moderation from the start? As long as users are aware they are entering a filtered and curated experience.