It's basically a hint for in which direction you steer the character, in very simple terms: left means they will be more subby, right means they will be more open minded and make their own decisions.
That you can slide it is a bug that I noticed too late, but since it doesn't change any value and resets after you close the screen, I decided to not bother with it for now.
Regarding the tentacle scene:
You guys really need to chill out, and maybe learn to read the tags.
The scene is there for a reason and I'll probably not change it.
Common sense is not playing games with tags you don't like.
Common sense is that if you play a game that clearly has content you don like, and you know about, you shouldn't complain about it, it's your decision to play it or not. I don't play horror games and complain that it was too scary...
Common sense is using your brain before posting.
Common sense is something a lot of people lack nowadays, you seem to be a good example, now please go and play other games.
Thanks for your attention