Yes, Diana is embodying some big fashion trends from decades past and living out our collective “dark academic aesthetic wardrobe” dreams with this ‘fit, but more than anything, the ensemble is a clever callback to the Wonder Woman television series that ran from 1975 to 1979.
One of the outfits actress Lynda Carter wears in her role as Diana Prince is strikingly similar to the one Gal Gadot wears in the sequel movie: a white button-down shirt with a prominent collar, worn loose and open with the lapels pressed against her grey blazer, accented by a dark vest. Both actresses even wear their hair up off their face, pulled back in a stylish ponytail. Though there are a few small differences — Gadot’s Diana keeps a button on her vest undone while Carter’s Diana has them all fastened, Carter’s Diana goes sans-belt and her vest is black with a white grid-check pattern rather than navy with a white pinstripe pattern — the ensembles are essentially cut from the same cloth (excuse the pun).
The Carter-starring series is set in the 1940s for its first season and then jumps to the 1970s for its second and third seasons. The outfit in question is from those later seasons, which do indeed take place a few years before the events of Wonder Woman 1984. That said, in the 1970s, real-life women began wearing clothing inspired by menswear, and that trend continued through the 1980s; according to RetroWaste, in 1984, “women’s fashion was dominated by […] menswear.” The look is accurate to both eras in which the respective projects are set — and, more importantly, it connects the world’s current Wonder Woman Gal Gadot to the former Wonder Woman Lynda Carter in a subtle but sweet way.