I think the trouble might be not only chest size but overall scale. The model is young with a bird-like frame. I have similar-scale friends who (unintentionally, of course) make me feel like a flipping giant. So did one of my best friends at school. I'm tall and hourglass and have had bigger bones than the lassie in that photo since I was about 12 years old. Even if I were skinny, I'd look like I'd dressed up in 'little girl' clothes if I wore that frock. Tis a nice colour, however, and I like the pleats.
So to answer your question, if you're (say) 5 ft 2 in and slightly built, you could be quite curvy and get away with it.