True.
As far as the scale of the game goes, on one hand I'd love to see a gloriously rendered Hyrule (or whatever the location is) much larger than even TP, but at the same time I fear that it would only hinder the chances of having characters as engaging as those from MM even more. With a scale that large, they'd have less time to devote to the development of each character, and we as players would have a difficult time keeping track of all the characters in the game.
I'll take Majora's Mask level characters and side quests over size of the overworld, any day.