Artists comments:

I wanted to draw a color picture of her in underwear once. I kinda like it. I wondered if it might be severe, but I heard that Saito-kun, the one in charge of Sailor Moon from K-sha [Kodansha], was surprised to death and upset.

From the Infinity artbook

So nudity (post #22994) is a-ok but underwear is unacceptable?

Both weren't, that's why Naoko Takeuchi didn't publish this book by Kodansha, but as a doujinshi.

well that´s some sexy underwear and it´s suits her very good but sad that the picture is so unsharp.