It is quite sad, but some people like it

You dont know that, they could be like 300 years old or something

Loli means a female that look young (in early teen years)
The age doesn't matter, even a 1000 years old could be a loli

yes because anime+small boobs = loli
apparently

My main concern with this top is not that it's off shoulders, but rather that (given the way it's floating around her shoulders) it's gonna be off everything once she moves her arms.

I don't need to teach you what a loli is
It's like trying to show what a dog is, it only requires IQ over 60 to know.