Complex sentence: More broadly, as "vulgarity" generally has a social and moral component, a "vulgarism" offers a substitution for a commonplace that is not a mere euphemism; it draws attention to the speaker's high-toned moral superiority or sophistication.
Split into simpler sentences: More broadly, as "vulgarity" generally has a social and moral component. It draws attention to a speaker's high-toned moral superiority or sophistication.