The MPAA's rating board is just conservative religious people. Their decisions does not reflect public consensus, even if it's supposed to. To do so, you'd need a varied group of people together, which they do not consist of.
No one is allowed to know the names, and through that, the identity of the board members. How come? How does that not come off as being shady? Supposedly it's to protect them from influence and threats. But many MPAA raters have ties to the big studios and I think it was created by the big Hollywood studios back in the day. And imagine if the president's name was held secret to protect him from influence and threats. Who'd ever agree to that?
The truth is that the MPAA have too much influence on how films are presented to the public to not be held accountable for their decisions. They have no actual system to rate movies, and there have been so much controversy surrounding their ratings that it is ridiculous to run it in the shadows when there's so much money involved in movie's ratings.
I think I once saw a documentary on it too. I think it was "This Film Is Not Yet Rated" from 2006. I remember it as a decent watch, even if biased.
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