From experience 99.9% of the time unless I visit a porn site purposely or some warez site by accident, or questionable reddit channels, I see no NSFW. However I do see some benefits if this was for kids.
Adblock is a far simpler and probably more effective solution than this, with a host of other benefits such as speeding up websites, whereass presumably this extension will slow down the browsing experience quite a bit. Given that, the only reason I can see for using this is if adblock was not doing a good enough job alone.
A few years ago I was at work and was looking up something and the page I landed on had ads that featured a barely dressed lady in them. The funny thing is that I didn’t even notice the ad until one of my coworkers, who was passing by my desk stopped, chuckled and asked me if I was looking at ladies on the computer during working hours lol.
I guess I had developed a kind of builtin ad filter into my brain, from ignoring so many ads over the years.
Thankfully, my place of work had reasonable people working there. But I think if I worked somewhere more strict even that one ad might have prompted a conversation with HR. Nonetheless, I promptly installed an ad-blocker on the browser in case any ads would be shown in the future that would have been more explicit than the one that had been showing this time.