Oh yeah, there's still quality control on all the systems, and all 3 won't allow any AO-rated games under any circumstances, but they don't have the weirder rules like Nintendo used to have, like "you can only make 5 games per year so they better be fucking good" and "it can't go multiplatform for at least a year." Now we get developers pumping out crappy games by the hour, but if any console turns them down, they're only hurting themselves.
I'd really love to know exactly what would make any of the big 3 turn a game down other than sexual content.