Sexualisation in itself isn't bad. It's just that it's EVERYWHERE, and often done quite poorly or for no good reason. I can think of a few examples where it's core to the character (Bayonetta, Shadow Rise) or downplayed (Sheva at least in her default outfit, Cortana in Halo 1 and 4) but there's quite a few characters that are just one dimensional eye candy. And there are cases where it goes against the character's personality like Samus' look in Other M, or where it makes no sense like Mu's Kill La Kill style armour. It breaks suspension of disbelief for me when I see something like Cammy's leotard thong or Quiet's warzone bikini, because I don't think "this is what this person would actually wear", I think " the artist was a perv or is trying to appeal to pervs". If you want to have a fanservicey character in your game, justify it by writing an actual personality around it that explains why they act like that, and don't stick characters that don't have that justification in fetish outfits.
On the male sexualised character thing, I can't really think of any male characters that are meant to titillate. James Vega, Chrom and Snake at a stretch, but that's it. And even the few I can think of have actual character and personality instead of just being pure beefcake, so they can't really be compared to the bland T&A du jour. If anyone can think of a character only meant to give the laides and gay guys a little something, please point them out to me.