It very rarely (arguably never) is.

Because Big Tits McGee in armor that would make Red Sonja blush? That is a “male power fantasy”. So is Conan in a loincloth with the actor talking about how flexing makes him feel.

Yes, #NotAllMen and women can appreciate a hot woman too and blah lbah blah. The point is it is the same power fantasy and is not “equally applied”.