Picture contains bad content dude it's not a matter of debate. Searching for artistic merits or for whether or not it should be tagged loli, or pedantic scrutiny on what their ages here would be justify pharah's weird body proportions is meaningless. It's badly proportioned incest smut of two popular video game characters. No amount of dialogue changes or justifies it except someone wanted to masturbate to it and the artist cared enough to make the colors good.
Feel free to think want you want it's still a bad picture.