No because it's not a word, it's just a load of ****So, if I filter out the whole word am I still being naughty? Like that dog smells like ****?
Edit: Let me add sh*t to the filter for a small period of time and you will see why changing one character is a problem.
So now if I write sh*t, it isn't filtered and I'm bypassing the censor.
Whereas if I write shit, it is filtered OK.