This is a great image, but the artist was overly concerned with detailing the labial contours and sacrificed prospective for the effort. Her crotch area would extend downward and have more girth. Usually, the lower portion of the vulva will extend to at least as even with the natural hip, as that is where the widening pelvic bone would allow for childbirth.

Um, then again, she is a dog/lion, so maybe I'm off here...

Lioness actually, but I see what you mean. Besides, when did anime start conforming to realistic proportions?

This is a piece of artwork with anime as it's subject, not a screenshot; proportions are as equally as important as correctly illustrating the eyes, mouth or entire body...Unless you're going for a Salvador Dali thing...

COME ON!!
JUST ENJOY THY BOOBS :3