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Yep. Considering how much time I spend on GAF, it is not surprising.

It has a better chance than a trainwreck like 4-Chan, but there is still a bunch of objectionable content on the forum.
 
What is the reason for the rejection? Content on the forum or the app itself?

NeoGAF is one of the biggest gaming forums in the world. The great thing about NeoGAF is that there isn't censoring on general profanity, people are free to use the f word and many others

While the app doesn't contain any objectionable content itself, it leads you to a place where you can read objectionable content.

One ray of light is that Apple have allowed the Playmesh app and the iFooty app to be allowed in the App Store. Both have sections in the app that lead to a forum where content can be posted that isn't controlled by the app developer. These apps have been given a 17+ rating under the new iPhone OS 3.0 submission rules.
 
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