No, these aren't "layering" shirts, cut low for a tank top underneath. They look fine on the models in the catalog. The problem seems to be that Eddie Bauer thinks "petite" means shorter length at the bottom, not shorter proportions throughout. Bleh.
Fortunately, the Gap — not known for their modest cuts of clothing — has V-neck t-shirt in petites that don't have this problem. I don't find Gap clothes to be as durable as Eddie Bauer items, but at least I can wear them in public!