I wonder if this metric was developed more for men than women
It clearly demonstrates abdominal obesity.

Women come in different shapes - the hourglass, the straight up and down (no real difference between hips, waist and breasts) the bossomy, the women who put all their weight on their hips and thighs.

My eyes were opened to this fact when I read an excellent book on how to buy clothes for your body shape. No example of obesity - simply a matter of demonstrating the variety of shapes of women and what clothing flatters that shape. Their point was "don't buy clothes that are not suited to your shape."

I am an hourglass. My waist will forever be smaller than my hips no matter how much weight I carry. And I have carried a lot.