I'm kind of reminded of the original Star Trek series and the uniforms worn by women. A lot of people look back at those uniforms today and remark how ironic it is that such a progressive show was still rooted in the sexism of the day. But if you asked Nichelle Nichols and some other women, rather than being sexist, those uniforms were a symbol of sexual liberation. What changed? Nichelle Nichols was born in 1932 and her experience was very different from a woman born in 1982 or 2002. The thing with art, is that what we find acceptable, old fashioned, cheesy, or new and interesting changes. It could be that in thirty years time D&D art might be more risque than we would like in 2024. People born in 2034 will likely have different standards than those who were born in 2002.
I think after more than 40 years it's time to recognize that these conversations will never end because we cannot possibly reach a definitive answer. We will continue to be in a constant state of reevaluation within the context of a culture that is perpetually in flux. In an earlier post I joked about chainmail bikinis in D&D, but in truth I don't really expect nor want that. I wouldn't rule it out entirely because I'm the type of guy who believes context is important. If WotC released a new tongue-in-cheek setting where silly fantasy tropes were played to the hilt then a barbarian in a chainmail or fur bikini wouldn't be out of line. But in the PHB or part of Forgotten Realms or Eberron? Probably not.