It isn't gone, but it has pulled the advertising. It will still get traffic from people with landmarks, and may try to advertise a small parcel in the corner. But Isle of Equanimity has decided not to go adult for whatever reason. This means that LL is finally moving to get mature parcels to conform to the new adult content rules.
There has been a great deal of chatter about this on forums and blogs, and evidently the message is slowly sinking in. But slowly. Metal88 Carter, the king of mature parcel scofflaws is still out there, and Slade's offers gambling fuck camping in a mature parcel. Escorts Lounge continues to operate on mature as well, and is not redirecting people to their new parcel.
Here is metal88 Carter's peepshow parcel, with metal88 himself. So there is no possibility that he is just "away from SL" and not getting the messages.
And my personal favorite of the parcels that LL has done nothing about despite repeated reports: Rape Torture Kill, whose rules card says:
Be aware that this is an EXTREME Roleplay area so if the words Rape,Torture,Discrimination,Bad language,Stalking,Harassing,Drugs,Crime,Abuse,Death sound of limits for you then please leave.
(Stalking,Harrassing,Bad language and Discrimination is strictly within a consensual roleplay.In any other case you will be banned at once).
Another good example is Endless Desire's Masters Medieval Supper Club, whose parcel description reads as follows:
Drugged, lost, the girls serve the meal --only to be groped, displayed, and humiliated by guests --then taken upstairs and used like whores BDSM fuck piss whore bestiality rape forced prostitution incest free sex human trafficking mansion
Someone is at the drop point recruiting people to do this in the mature parcel.
So one by one sims and parcels are dropping out, but many are continue to flout the new adult content rules, in some cases brazenly.