(1) Cinnamon, I think the fit is pretty darn perfect on you! Don't be so hard on yourself!
(2) I suspect what *may* be happening is that the pattern is obscuring the wrap lines of the dress. What makes a wrap dress look 'hourglassy' is that the neckline and A-line skirt make diagonals that help the eye slide inwards on the way down and then outwards further down.
This is not happening as much because of the pattern (which I actually also *do* like on you, despite all this); BUT you could maybe remedy that by emphasizing your small waist with a darker and possibly wider belt. That should provide enough contrast with the width of the lighter fabric on your shoulder and at the hem to trick the eye again! It's worth a try, isn't it?
Another way to emphasize the V-shaped diagonals on top is with a necklace added in a standout colour. Again, worth a try?
Because that dress is fabulous, I'd say (right along with MaryK).
(c) Also remember that this is a still photo. In motion, a wrap dress' skirt flares out more (which counters your IT silhouette better). And consider the side view, too, since we do see people in the round. You'll probably see more hourglass-ness right away!
