It remains to be seen how fairly this will be enforced. But, on its face, this seems like a good, reasonable approach. I've heard some really unacceptable shit before, and I am sure it ruins the experience for some people.
With that said, I think the general culture of online gaming is noticably less assholish than it was a decade ago. I am guessing this has to do with an increase in the average age of gamers playing online. But, it could be something else. In any case, there is still plenty of room for improvement.