That has to be photoshopped. No chick has that much hair under their arm, onto their tits, then plucks their eyebrows.
Right? Right?! 
No. You’re right. She is fully shaven like modern women are.
The armpits are just there to make a statement.
Madonna is Italian of origin so good bodyhair genes from there as well.
She'd have moustache stubble, light pussy hair up to her lower chest, etc if she didn’t shave.
Damn! Madonna going basically insane bothers me more than it should!
