This is a rather delicate matter.its hard to talk about such things without making someone angry. wall of text:
She is in just the right spot in my view! i wouldnt mind it if its lower or higher in her VGU but as an old Irelia fan i want to still recognize her as Irelia when i look at her despite all the changes in her look. an attractive young woman who is also known as a powerful warrior and captain of the guards (in case it stays canon in her lore).
i'm not saying that how people dress conveys who they are and how they are, but i rather she keep a certain formality in her apperance that speaks for the stature of a well known warrior and a captain,relative to her lore. cultural diversity might be a relevant factor here, but how often do you see captain of a city guard dress sexy?wouldnt that complicate their job for them?
when you say sex appeal,i personaly do not find pear and hourglass figures with round buttocks very attractive.(i think you can name dozens of League champions with those figures). so i wouldnt mind if Irelia turn out to have a smaller figure and less of those "appeals".