Is it just me, or is the vagina somewhat too high up?
Nope, it's not you. That level of distortion is enough to warrant bad_anatomy tag. Vaginal opening NEVER appears like that, even if you pulled the skin of pubic area hard. There's also several minor anatomy errors like the difference in both size and thickness between the right and left arms, the positioning of the breast and nipples relative to the torso rotation and the position of the right leg; it looks like somebody just pasted the whole leg there.
Which brought me to a conclusion that this 'artist' was just creating a composite of several pictures and then painted over them.
