I would contend that one takeaway from companies like Facebook is that this phrase doesn't actually hold up all that well on a global Internet.
Facebook originally classified breast-feeding as explicit. At the time there was actual controversy about whether or not it fit into that category (public perception now is mostly that it didn't). Facebook's shift from "no pornography" to "here's a giant document about exactly what is and isn't pornography down to the number of nipples you show" feels to me like the white flag of a company that has decided it no longer knows it when it sees it.
I think "you know it when you see it" works very well for small, tight-nit communities, and maybe not quite so well as soon as as you start operating on the scale of a country. On that scale, I kind of prefer the narrower definitions we have on stuff like libel and slander.