Mardoch
Defender of the Universe
No, it isn't. While the outfits stay the same for the two characters who wear them, outside the transformation sequence no special attention is given after a certain point. I'd say there is more male fanservice (at least when talking about a particular character) than female. If anything, it is a parody of that sort of fanservice.
To give you an idea what it is like, this was made by some of the same people who made Gurran Lagann. A similar sort of insanity exists here as well.
So I'm about 6 episodes in and...it's insane. It's definitely not what I had anticipated in regards to the clothing situation.
And Senketsu getting ironed is hilarious. I think I've laughed at this one more than most other not-really-serious animes I've watched.
It's definitely proving worth my time in the entertainment department.