Yes and no. It's complicated.
Barbarian men and fantasy stylized men are hyper-masculine. The emphasis is on their muscle structure, their biceps, large broadened shoulders, thick bodyset. The traditional barbarian man has a high lifted gaze, a very grounded stance. Traditionally he is very scarred and, well, not attractive, covered in grim and blood. The primary emphasis is in determination and strength. If a woman is presented in the same picture, she's in a state of supplication, while the male typically ignores her.
If you're arguing that hyper-masculinity is not also hyper sexuality, then you're fighting a losing battle. Those broad shoulders, that muscled chest, those strong arms and legs, they're all just as sexual as those wide hips, large breasts and full lips. They may not be perhaps YOUR particular tastes, but if you look around at what generally defines a man sexually, it's a variety of large muscles, a strong jaw and so on. Look at women's romance novels(generally exclusively written by women), you don't see scrawny little nerds there on the cover, you seen Bendar the Barbarian! or Jacob the biker! or Frank the gunslinger. Hyper-masculinity IS hyper-sexuality for men, you cannot separate the two. If you need an example with better visuals, watch an Old Spice commercial.
I'm breaking this apart for two reasons, which I'll get to below.
... and fantasy styled women are hyper-sexualized. The emphasis is on their sexual features, large breasts, plush lips, widened eyes, bizarrely thing waist. They have a swayed back to better show off their sexual features, giving them a look as if they're ready to fall on their own back at any moment. Traditionally, they are completely unscarred and held to very high beauty standards, often completely unbloodied and looking as if they just stepped out of a fresh shower. The primary emphasis is in readiness to have sex. If a man is presented in the same picture, he is typically either presented as an equal, or as someone the female is attempting to seduce, with again the emphasis being on sex.
This is something I think the "games sexualized women!" argument often fails to grasp, in that there are a wide variety of what women should look like given the situation. Seductresses such as witches, rogues, and con-women have very sexualized bodies because they are playing to sexist ideas of men, that men want large breasts, long legs, and eventually sex. Barbarians may be busty, but this is not a given, many barbarian women are only slightly feminized versions of barbarian men. They retain many traditional feminine features, but combine it with traditional masculine ones. Making for tall, gruff, muscular, "bear-your-face-in, then have sex" women. You often see this in female orcs, trolls, and other non-human races.
Want to make it truly equal? Imagine this picture of Conan the Barbarian: He stands next to the bodies of the dead, twisting his now small waist to present both backside and his chest. His lips are full and slightly parted to shoe both increase sexualized blood flow and shortness of breath. His body is gleaming and oiled without a trace of dirt or grime on it, his hair rich and flowing behind him. His loincloth very obviously stands out from his large and...well. You get the idea.
But that's not really equal because what makes a person ideal for sex is different for men than it is for women. A sweaty, dirty, blood covered muscle-barbarian coming into his cave from the cold with the carcass of a lion on his back indicates readiness for sex just as much as you described for women above.
But we don't see that picture of the male barbarian, do we? No, only of the female barbarian.
Because those features aren't sexually attractive on men.
The whole reason that these stylized bodies are considered "bad" is because they are unreachable goals for women. At the very heart of the matter, it is telling girls that they will only be acceptable if they look like this, and that is bad. The SAME is true for depictions of men. It is telling young boys and men that this is how men need to be in order to be acceptable. If you are not this then you are wrong and you are bad. And that is equally as bad.
