Tim Gunn is never shy about his opinions on Project Runway — calling a dress a “pterodactyl out of a gay Jurassic Park” isn’t exactly holding back. And when PEOPLE talked to the debonair fashion expert at the Tide and Downy Total Care Launch Party, he expressed his disapproval of Katie Holmes’s recent penchant for fall’s new baggy jeans. “I have to say, Katie Holmes has become so much more sophisticated in so many ways, but I think she’s in a dip right now. I can’t explain it.” Gunn actually sees the adaptation of the new look as a move back towards her younger look, saying “She ascended from this tomboyish waif look to an incredible sexy sophisticate. We realize how much style she’s capable of. I don’t get it.” But for those of us who are digging Katie’s baggy look (also spotted on Reese Witherspoon and Jennifer Aniston), Gunn does give us hope. “With the right shape, it