Only if you think having secondary sex characteristics is sexist. They're both skin tight.
I am literally flabbergasted at the possibility that you believe the male armor there is skin tight. Do you think those men are reptiles and have scales all over them and that's why the armor looks that way? Skin tight has an actual meaning, it doesn't just mean "not all blousy."
It would be less sexist if the zero suit had a big boob plate on it?
Then having her walk around in latex? Look at that male armor. It already has a big armor plate on the shoulder which extends down the upper torso and a metal plate covering the groin (a CONCAVE metal plate, to deflect attacks away and incidentally to disguise the shape). If Samus was wearing that, there wouldn't be a problem. Instead she's wearing a skin-tight suit (an ACTUALLY skin-tight suit, in that it is TIGHT to her SKIN) that carefully outlines the underside of her breasts, which has to actually be a design goal because otherwise it would be physically impossible -- fabric doesn't actually work that way.
Back on topic: not only am I totally creeped out by this game after hearing the producer describe it, but I'm basically terrified about the outlook on life suggested by his comments.