I think it looks intentional when open but too big when it's closed. Something about the cinched waist versus the big shoulders makes it looks like it is supposed to be fitted but isn't.

I like it a lot zipped, not so much unzipped (especially from the side). But then in life you'll be moving about and it's not like seeing a freeze frame shot. I don't think anyone will say "she's wearing a jacket that's too big" for two reasons. 1- It's not all that much too big. 2- Most the people I see wear jackets A LOT too big.