Yes, this figurine pictured here is really supposed to be Mary Jane Watson, Spider-Man's wife. This controversial figurine shows, with obvious intent, a male-fantasy Mary Jane with a perfectly-countoured and svelte figure with a revealing outfit.
The fact that she seems happily doing domestic chores for Spider-Man sends the message that this is what wives of superheroes should be doing and not striving to be actresses (like what the character obviously wanted to do). Female fans of the character might not be too pleased. But this is obviously designed with the male psyche in mind and will surely bring big bucks to the sellers, and Marvel of course, which has licensed it.
Many fans might actually want a different version of the figurine. One suggestion is that she be portrayed on stage, acting. This can be made to appeal to young, male blood by still making her figure and outfit sexy enough but not too trashy.
The figurine is available at Sideshow Collectibles for $124.99. With that high a price tag, only young adults with the cash and enough interest in comic books and collectibles may even think of purchasing it. The others who are less privileged will have to be content on pictures such as the ones here to use as their Desktop wallpaper.