Reasonable bounds? Yeah, like Ahri, being a charmster, or Evelyn basicly being a sex-whore-demon. That is reasonable. But why would a girl who got into the void and was figthing to survuve every single day would wear skintight suit and have a giant cleavage. And remember that Riot designers had to say sorry to the public for going too far in sexualization, but it looks like they never fucking learn.
Or just look at characters that never had to be oversexualized to be famous (both male and female): Lux has not a single skin with giant cleavages and skintight latex suits. Again, Ahri is considerably humble. And did we ever see Garens form? Never! Garen is a proof that armour can be sexy.
And yes, males can be oversexualised, just like females, but we dont see that as much of a problem. Exposed pecs or abs are common among male characters, just look at Kayn or Sylas. Thats the same case, but we are just more forgivable, because muscles are not necessarily sexual features like thighs, ass or boobs.