I agree that he isn't that big but is certainly overmuscled. Ideally, lose muscle but none of these guys seem to do it. Look at Belfort at 185, looks fine.
Poor show from Alves. I have some sympathy for him because of his long lay-off and injuries, but he can't keep missing weight like this, it isn't fair to his opponents. If he can't make welterweight, he needs to move up to middleweight, simple as.