Rather a shame that such a "fun" ad of the times is too much for Americans to handle, perhaps someone can remove the really "offensive " (nipple and areola) part by careful airbrushing.
Had it been a bare breasted man you'd (site staff) have left it up. Shame how killjoys have taken the fun out of modern life. Also sends a poor message to women that their bodies are offensive when a similarly unclad man is acceptable.
It's not a matter up for debate.