I think both issues are valid. That means that if you're not overweight but you don't like to look like a 14 years old effeminate boy or a very masculine girl, or Joey Ramone, you may have trouble finding pants.
Even the more traditional stuff that I used to wear has been infected by that trend - waist get lower and lower and legs get tighter and tighter. Personally I like old school suit pants or cargo pants. You know, man clothes... But they've become increasingly hard to find in my size - not counting the fact that I have a pretty non-conventional profile.
As much as I hate that place, and much to my surprise, I finally managed to find jeans, cargo pants and training pants at WalMart. It's probably the last place I'd want to support, but the other stores have all failed me. Other than that, there's this little place in NY where I bought a couple of my suits - they had the more conventional type of clothes that I like. But bigger stores are usually a lost cause.