Men's clothes have gone through the same process over the course of my lifetime. For instance, I wear the same brand and size of jeans that I did in college. The waist size back then was broadly accurate to the actual size in inches, but today, thirty years on, I weigh ~20lbs more, and that waist "measurement" has up-sized along with me. I guess it's meant to flatter me, but is it really fooling anyone? I guess, based on other's comments in this thread, that it does, and vanity sizing works, which is just sad.
(Then there are men's "relaxed" fits, which bear even less relationship to actual measurements. Maybe "slim" sizing is closer to the old system? Even when they fit my waist - like, six nominal inches bigger than standard! I'm not that much wider - they don't fit my legs, so I don't know.)
None of that's anywhere close to as ridiculous as women's sizing, but give 'em time and I'm sure it will be.