Meh, I've never cared a whole lot about that "revealing "armor trope. I'm not one to indulge in it either--I'd never get those Skyrim mods for that kind of thing, simply because it doesn't fit into what I'm looking for in that game, but if other people want that sort of thing, then I'm not going to complain either.
I mean, like you said, fantasy is fantasy. Everybody is disproportionate and idealized. Some games are a bit more out there or unbalanced than others (using Skyrim again as an example, i've seen tons of screenshots where the women were all scantily-clad barbie doll figures and the men were the same as in vanilla. I mean, if you're going to embrace the fantasy tropes, then why not go all the way, man?)