We've looked at doing a SFW version with NSFW as well. However, a making the game SFW also includes deleting any NSFW text. Long story short the game would be a broken unplayable mess and that doesn't make the best first impression.
I don't think you need to worry about the playability of the SFW version, because no one will really play the SFW version of an adult game. it is just a method to bypass the regulation. just look at how some Japanese adult games studios managed to sell their games on steam.
I'm aware of the method you're referring to however, regardless if "no one will really play the SFW version" I'm not going to have the initial download of the game be unplayable.