I've seen monstrously big crops of oysters growing on fallen beech trees around here. I think one fallen tree had over 100kg of fruiting bodies on it. That one had a trunk over 3ft thick. You can definitely get useful crops from large diameter wood.
The three things I can think of that might come in to play are:
Ease of handling - smaller diameter pieces are easier to work with so might make commercial work more efficient.
Smaller diameter logs have a different ratio of heartwood to outer new wood - the outerwood contains more readily available sugars so is more rapidly consumed by the
fungi. Smaller diameter wood might therefore be more productive than lareg diameter, but that would by no means mean discarding larger diameter material.
Larger diameter material might have more value put to other uses (
firewood, planking etc...)