Regardless of one's main reason for not wanting Bund edited, it's still censorship, which is bad because you're not getting the full product as expected, and as has been mentioned, FUNi's basically telling you what's offensive instead of letting the consumer decide for themselves, which in and of itself is pretty offensive.
Plus, it's a potential slippery slope. If they edit scenes in Bund (and keep in mind, FUNi hasn't made it clear exactly WHAT will be edited; everyone's just assuming it will be the loli-looking main character's nudity, but Taekmkm mentioned other scenes as well), what's to stop them from making other edits on future shows? They may eventually get to something you DO care about. And it doesn't even have to be nudity/sex we're hypothetically talking about, either.
And, according to the quote from FUNi: "we have determined the series contains controversial elements which, when taken out of context, could be objectionable to some audiences." But context is everything! You can take ANYTHING out of context and make it look bad.
AND, as has been mentioned over at AOD (where their thread on this topic is much, much longer- not making value judgments on us, just stating a fact), this is going to look bad for FUNi because now every time a new license is announced, the fans are going to wonder if it's uncut or not. For a long time, FUNi worked to build a good reputation after their apparently less-than-stellar early days. And it worked, and that's part of why they're #1. But a move like this could throw all that work out the window.
I'm not going to boycott all of FUNi's titles or anything, but I'll be avoiding this particular release on principle. (Well, that and the fact that, like I already said, I wasn't really that interested in it anyway, but even if I was, I'd be avoiding it)