Wow, this thread went places.
I can only speak from my own experience, but I am well aware of my privilege. Privilege doesn't mean you are a bad person or an ignorant person, it means that due to the limitations we all have to perceive reality, it's really hard for anyone to truly understand how someone else sees the world. It's the little things that make the most difference, the way we grew up and the things we had that we took for granted. I know folks who grew up in a 2 story house on waterfront property with a sailboat and their parents paid for college, but because their parents made them work for everything as a child, they thought they grew up poor and weren't spoiled. I grew up in a 4 room apartment in mid city New Orleans, but my parents prioritized my education and my hobbies, and I never knew I was poor until I was an adult.
I'm a tall, bulky white male living in the South. I dress business casual even on off days. Even though I'm theoretically a minority in my home town, I also know I can take a drive to the middle of nowhere in Louisiana or Mississippi and know I won't be pulled over because of the color of my skin. I can walk down dark streets alone at night and know that when I cross paths with other men, they are usually intimidated by my size and my appearance when I know most of them could probably kick my ass. People will talk to me about how Obama is taking away their guns and the race war is coming, and as long as I nod and laugh, I have the luxury to ignore them and be on my way. I am not well off, I am not rich, but I am well aware I have at least some things unfairly stacked in my favor. That's not my fault or my choice any more than any accidents of birth are for anyone, and as such I shouldn't feel shame or burden or guilt because of it, but it's not something I have a right to pretend doesn't exist.
Anyways...
As a man, I can say I'm not offended by oversexualization of male characters at all. I don't know the relevance of that, unless most men feel this way as well, and this means most men simply aren't offended by oversexualization in general. Like I'm sure most people here, I don't much correlate appearance with character or worth anyway, so I couldn't care less how someone presents their appearance.
I think in the case of the Sorceress though, there's two basic questions that need to be asked regarding her design: 1) is the character's depiction demeaning to women, to which my answer is no because the art style is not attempting to be either realistic, idealistic, or exclusionary, and I feel the rest of the game's art design and the artist's purported intent supports that stance (though there's little denying that the character is intended to appeal to a specific demographic for obvious reasons, and I'd also certainly weigh my opinion against the likely more nuanced and relevant opinions of actual women); and 2) is the character given the agency in context to support the way she is presented as being in-character. Here I simply must acknowledge that I haven't played the game yet, but I believe from what we've seen that she is clearly intended to be both an unnaturally farcical and powerful character, yet in control of her own destiny, and so I don't feel she is presented in a sexist way.
Of course, the game could come out and the plot could involve her being controlled by a demon that makes her clothes explode off every night at midnight after which she is set upon by randy locustmen, and you can bet that would affect my comfort level with the character.