No, they are not agreeing to see profanity.
You agreed to the rules that state you will not use profanity or masked profanity in Blizzard games. The filter is there because some people don’t follow the rules they agreed to. Parents have the option for using it as do others, but that does not give anyone the right to break the rules. Spotlight on: Harassment
Mature Language Filter (aka The Profanity Filter)
This can be activated within your Interface Options: Main menu (ESC key by default) Click Interface > Social and check - Mature Language Filter.
Once enabled, all inappropriate words in our profanity database will be filtered and masked to appear as jumbled characters, such as ‘*##@&’.
Note: The filter does not excuse the language used. The filter serves as a temporary shield, to help parents of minors and others who do not wish to see it, to block it. Our policies prohibit the use of both clear and masked inappropriate language
This goes back to 2004.