Even a fan-art looks better than this... although that guy in the back isn't from TEKKEN, the artist did a great job on both Chihaya and that guy's costumes.

They're probably doing it because of this:
BUT AGAIN...Even if Kotoha looks perfect in Lily's dress, that's because they're all girls. A girl cosplays another seems legit, but putting a set of costume originally for females on a muscular guy? That simply won't work.
If they're really going to do a crossover, do it only with female TEKKEN characters... other than that it'd be a disgrace.