Is this too much?

Too much. It also doesn't look natural. It's like you put a pair of socks badly folded in there, so you might be attracting attention for all the wrong reasons. Less is more.
 
Do you want attention? If so, then that's just right. Do you want people to give you double takes?

If you don't want any of the above then YES it's TOO MUCH. (It's also really hot, but that's not the question you asked)
 
I woudln't complain. But seeing you move around would reveal a lot more than 2 static images.

For sports, you should contain your genitals in underwear, or goto a nudist beach.

I wouldn't be able to stay soft without underwear in those shorts.