Well there is more to Playboy than that...used to be anyway. Good lord Ray Bradbury and Asimov both have wrote for the magazine-- for an example. Playboy has, for the most part, always been about the "Playboy lifestyle" and people aren't interested in that much anymore.
Yes. Once upon a time Playboy was known for its journalism, its interview most notably, and its short fiction, and previews of novels in addition to having better than average glamour photos of hot young things. 'Course, I haven't read the damned thing since they interviewed Christian Slater like fifteen years ago.
I still enjoy occasionally digging through an old one and reading an in depth interview with someone who matted greatly at the time, reading a preview of Fleming's "upcoming" Bond novel, or even seeing what sort of look was had by a grand beauty in 1967.
See I've always thought that Playboy made a mistake moving away from the high end of men's magazines. It's true, why pay for it when you could download it for free if you're just going for tits and ass. Which would make one think that offering more and raising the bar again, while at the same time with a focus on a newer generation and their issues would be the way to go; not just playing to the average.
~shrug~ Then again, the way I see it why settle for "Good enough" in any endeavour.