Another anecdote which I still remember to this day: My dad and I were in Best Buy, looking for a video game to play, and he asked one of the sales person what the good games that were out were. “I don’t care if its X rated or whatever. My son is old enough and he knows the difference between right and wrong. I just want a good game.” I remember that, and feeling happy that my dad was, unsolicited, giving me a vote of confidence in my decision-making processes and what not.
I was going to pop in and say something like this; Shakes - no offense, but it’s clear you don’t really know what’s going on with games, and honestly, if you’re going to be the best parent you can be, you probably should. (He says as one of those people who has no kids but “knows all about what you should do.” 
)
Seriously though - you should put in some time, with your son, if possible, learning about this stuff. Ask him to teach you. Take a little time and mess around with some of these games. He’s a bit old at this point to want to play WITH you, most likely, but the best way to understand what’s up with an online space is to go there yourself.
Merneith’s points stand though - if nothing else, he NEEDS to understand that you don’t tell people your name/address/phone number/email/whatever (After all, this is why you have a PSN account name!) and to treat people well. He’s going to run into a lot of people who DON’T treat people well, and you really don’t want him picking up that kind of behavior. Do your part to make the internet a better place and raise a kid who knows that attacking peoples’ race/gender/heritage/beliefs/sexuality/whatever is NOT OKAY, pretty much EVER, no matter WHAT he heard someone say on PSN.
If he runs a Youtube channel of his own, he probably gets the no creepers thing. Or Shakes should be giving him the ‘creepers are on Youtube too’ chat ASAP!
It’s definitely the profanity and behaviour of the players that’s a big issue. He might think that because his peers are saying certain things those things are good to say or do elsewhere. I’d jump on the ‘these kids are being very bad and should be punished for what they’re saying, if you follow them, I’ll take the headset away and wash your mouth out with soap!’ talk.