"Semi-loli"? She has tits, hips, an hourglass figure, etc. What's even remotely loli about that? Minimalist is right. This isn't even remotely loli-like.
I guess when you are used to chicks with proportions fucked all to hell being the norm this is loli in comparison.
But in fact it clearly is not. It's basically making her look like a real woman with... what I'd say are either large B cup breasts or maybe a small C.