I agree that for many of us it's about conforming - wanting not to attract attention - and, often, aiming to conform to other women's expectations. But those expectations do, imo, trace back to the damn patriarchy again. The ad campaigns that made us think we mustn't smell of ourselves, or have hairy legs, or untidy hair, etc,etc,etc, were created by men to make more money for corporations owned by men.
It pisses me off. But, the other day when it was sunny and I walked to the shops in shorts and fuzzy legs, I felt judgemental eyes burning into me. They probably weren't doing anything of the sort. But I waxed as soon as I got home! That's a form of self-censorship, innit? Tsk, Garlic 
I've got to say, though, that now I'm middle-aged I very much enjoy being "invisible". It makes life easier. If I want to 'show off' (become hi-vis), I wear Very Bright Colours and Very Big Hair - that's definitely not about conforming.
In my sexier days, it was fun to use girly stuff to show off and look pretty :) I am unable to view that as a bad thing, especially when you can also use it as camouflage if you're insecure. It's a problem if you feel you "must" do all that work. Do women normally question this some time in their early twenties? Or are they all hopelessly brainwashed?