Most people's preferences are relative to what they are familiar with. Many people think any woman w/ any shape in her arms is too jacked. Within the competition community, most people - men & women - appreciate a well-developed physique. There's a level both for men & women where the androgens become too aggressive, but its actually the depletion associated w/ the last week of prep that usually produces the 'manly' look in women - and not the androgens. But the ignorant usually claim its due to too much juice. Some people just flat out aren't worried about that because they are there as a bodybuilder and not as someone who is worried about whether or not the guys in the audience think she's 'fuckable'. At the end of the day, I still think you have to give consideration to the overall aesthetic.
I'm not a small person and personally can't stand guys who are smaller than me - shorter or smaller. By the same token, I don't find an offseason pro BB very hot either - a nice big roid gut and a square shape do nothing for me. But at the same time I think Markus Ruhl is the hottest man on the planet. I could spend a whole day just crawling all over him LOLZ!.
As a competitor - I think someone like Sarah Hughes looks fantastic. I think Iris Kyle has the most aesthetic physique in the business. I don't think she looks too manly - but I also think of her as a bodybuilder and a fantastic person. There are other women who just look harsh... I still respect them for their work and respect their choices if they are in that group that are there to lift and bodybuild and not worry about the guys who think they are fuckable. God knows there's a whole additional subculture of guys who get off on hyooge women .. so more power to them. I still think at the end of the day, the whole package needs to be aesthetic, but as called out above - the industry is not rewarding women who aren't 'fuckable' -whether or not you agree w/ it - it is the way it is.