I wonder if the 14 graphics engine can do something like this.

[SenorPatty]

CookiesNCream is correct that the Western Market is a lot more sensitive about certain things than Japan is.

AnimaAnimus is also correct that China tends to be even more sensitive though incorrect in stating that game developers don't have to change things for the NA and EU markets. It's done a lot more often than people think.

The culprit isn't the players and what players will accept. It's the ratings board and retailers. A lot of retailers won't carry products that aren't approved for use by at least teens by the ratings boards. Each country's ratings boards has their own list of hang ups that will cause them to put a mature rating on a game instead of a teen rating.

YoshiP even went into a far amount of detail during an interview about some of the things they would like to do in cinematics and in game but can't because of the NA and EU ratings boards.

As for the OP's request, it's possible for SE to do. The question is how they would use the sheer appearance in gear models and if the ratings boards of any countries would have issues with it. It may not be a fight worth SE's time to battle since having such sheer appearances isn't necessary to the game.

Would you be happy if new content and features were delayed 3 months because SE tried to get something past the ratings boards and then had to redo everything when it didn't? Probably not. Better for them to take a more conservative approach they know the ratings boards will accept so they aren't forced to redo months of work at the last minute.

To add to this, not every change is even based on regional sensitivities. For example, when it comes to 4kids, a lot of the editing was also done to appeal to a younger demographic just so they could market the show better and have these kids buy whatever paraphernalia they could. In video games, there was the classic box art rework (anybody remember super buffed megaman box art covers?) and some plot text butchering as well.

As for the see-through topic we're on, honestly, I feel SE's decision to create this would hang on far, far less on ethics and more on whether or not if it's profitable. No matter how small the scope of work it seems to us, it's still a matter of cost and time and they have to evaluate if their returns will supersede those factors. Personally, I wouldn't mind this at all and I would welcome it into the game, no questions asked.