I agree it's purely a business decision, but I suspect it's a genuine attempt to redefine the magazine -- essentially as a head-on rival to Esquire (which is pretty much Playboy without the pictures). This allows Playboy to address a larger market -- i.e. people who would actually be interested in the articles but don't want to be seen as buying porn.
Of course, it's still called Playboy, so... eh whatever.
Of course, it's still called Playboy, so... eh whatever.