By the way, I don't mean to pick on Paizo. I love their stuff, and I prefer their art over the PHB. And it's a wider trend - women tend to be more sexualized in art than men. Hell, I have a bunch of Reaper Minis in front of me - and the males are all wearing pratical armour, while two of the three women minis in front of me are wearing bikini pieces or "cleavage armour".
(I also have a man in a conan-look, basically naked; and a very cool-looking woman in leather armour that isn't implicitly sexual, so there is at least a little bit to say for Reaper, right there).
So, yeah, I'm going to have to go with the OP. There *is* a sexualization of women in the art of D&D that is not present in the same degree as men, if not in the actual rules/content of the game itself. And, yeah, I'd like to see some dwarven women in the art. And a few scarred lady fighters (and not "sexy scars", either!). And I'd rather have women be found in about 50% of the pictures, not the 60-70% I'd think there is now.