Unlike other people here, I prefer the more lean Cthulhu rendition,d though not as muscular as some that we have seen.
I do agree that the muscles should be toned down in some of them as was the case with Shasvre's first picture, but the 2nd one, while pants shittingly scary is a bit too big in the mid section. But that's just me. A slight flab, but not massive.
Is it true to Lovecraft? Not really, but that doesn't mean it isn't good.
Look at Red from The Shawshank Redemption. In the book he was a white Irish red head. Everything that Morgan Freeman is not. Despite the massive deviation from the book, the character still works.
I kinda view it like that.