This is all well and true, but it's important to note that these organizations exist as a sidestep to regulation, they are formed by industry insiders as a promise to the regulators that they will be honest about how they rate games (or movies or music) so that the government doesn't actually get involved and do it's job.

It's a form of regulatory capture that allows the industry itself to decide what is harmful to us.

It's basically the definition of conflict of interest.