I believe they are attempting to become more PC than before, but yes - I believe they are and always will be sexist. My reason for saying this is because I have never seen an equal pageant created for men. This is strictly something that women have chosen to subject themselves to.
I don't watch them (I have, but I chose not to because they bother me too much) and I wouldn't watch them if they actually did create a male version.
While flipping through the channels one day I saw a "hooter's girls" pageant. Every outfit worn for every different section were just different colored bikinis - how on earth can you think they are interested in a woman's mind, political views, or community contributions if you're just parading her around in different suim suits the whole show?