While I do question a lot of the changes they made to Skullgirls 2nd Encore, there was one context where censoring panty shots was entirely understandable.

Filia was one of the characters censored. She's a sixteen year old schoolgirl, and while this may be a stretch, her name sounds like a reference to "paedophilia", which makes the fact that some of her animation frames and concept art were originally drawn upskirted with clearly exposed panties even more problematic.