I don't think the armor is overdesigned. The cloth outfits are more complex, but the armors not so much. They're just odd sometimes. It was mostly a problem in Awakening with the toilet bow cavaliers and round, fat looking armors, but Fates added some odd issues of its own, like even more leotard undersuits for girls in armor (there were some in Awakening, but mostly for mounted units, like Great Knights, but now even Knights/Generals have them).
The change in armor design is actually the one art change that really bothers me about the last two games though. The worst thing is that it's unlikely to change back since it's apparently due to the art director, rather than the character designer. So, even when they go with someone else, the armor style likely won't change much, since the overall in-game presentation of FE13/14 are a clearly step up from FE9-12 (and 11/12 were disasters with that CG artwork).