There IS a huge "damned if you do, damned if you don't " vibe about the topic of sexualized characters in general for men, because basically every. single. character (almost) can always be turned into a "male power fantasy" to end an argument.
Anyway,
another thing to keep in mind is that men and women are quite bad at actually at knowing what the other gender find attractive. The joke in Big Bang Theory where Sheldon assumes the "sexiest man of the year" is either Sir Patrick Stewart or William Shatner is not completely off.
I have had a lot of arguments with women arguing that for example Liz Hurley (back when she was REALLY famous) was if not ugly at least very plain, and it was ridiculous that any straight male could find someone like her sexy. This is just an example among many.
At the same time I have found a lot of the men I assume are attractive to women don't ring any kind of bell, so to speak.
As for muscles, we had this argument on another forum when ME3 came out. Shepard is not THAT skinny. Again, compared to the average modern IRL female soldier, her arms are about average. The overly muscular men (not only Vega, who has his own character model) are less realistic, actually.