I see a lot of older women (I am nearly 60) who dress with the main intention being to cover up bits they don't like rather than to dress in a certain style that they do like.
Sleeves that reach the elbow to cover upper arm flab or loose capri pants that hide legs but are cooler than full length in summer. Waterfall cardigans to cover the bottom. Strange cut outs at the shoulder to show a little skin where they feel their skin isn't looking so aged.
I think this all results in frumpy looking old lady dressing style.
I don't think anyone else is really noticing a bit of a bingo wing or a wrinkly knee and dressing to cover bits of you just results in an overall unstylish look which everyone notices. I feel the discomfort at our aging bodies is leading women feel they need to cover things up even if it leaves them looking like stereotypical old ladies