I can only speak for myself but for me the term "player models" is more of a reference to body type aka skeleton, not textures. Of course, the primary gripe with using the old skeletons is the funky body types but there's also the poorly fitting accessories, mainly shin guards and catcher's gear. The accessories are the way they are to avoid clipping, but tech has advanced to the point where objects can interact with each other sans clipping (aka soft body dynamics).
You hear me Woodweaver? Soft body dynamics!
Marlon Byrd is what's wrong with the player models.