Found out that it is just that, they softened the shots by proper use of lights and the lenses that they had available and if you use the right tools you can get the same look yourself even in portrait shots without having to PS the poo out of your image.
Think-beauty dishes/softboxes/ringlights all used together along with whatever background lights and not shooting with the lens at it's tac sharpest-yeah you want tac sharp at the eyes but the rest can fall off just a bit.
BTW they shoot all 35mm digital now, no MF (film or digital)or LF for a couple years now
even for the centerfold! They still have the LF and Has MF digital bodies there but they set on the shelves. (won't say what camera that they do use to not throw that into the discussion).
I heard this from a guy who shoots at the Playboy shooting studio and knows the guy who has done the centerfold shoots for over 30 years now.


In fact if you ever get a chance to go there the photographer can show you the sheet film that was shot and he will dare you to show him where they airbrushed the photo in post.
IT IS IN Knowing HOW TO Light your SUBJECT plain and simple.