I don't think so, I have a bra and panty set that look almost exactly like that so it looks more like lingerie than a bathing suit to me but I've seen a lot skimpier on the beach.
It is not "too much" it is just not really a Bikini.
It does look like women's lingerie. I think its mostly the straps and the color and pink accents that make it look like underwear.
It looks like underwear. If this is a honeymoon with your newly wed husband and you never leave the hotel room, not too much. Any other vacation, too much.