I have always thought in principle a big operation should be better at each stage of the process since volume would allow people to specialise in only one part of bat making.
I do not know enough about the exact process myself gut feeling would be the opposite view to yours where limited numbers are treated more like individual pieces of wood.
A lot would depend how you view the importance of pressing in the process. I know a bat press is an expensive bit of kit to buy so as The cricket boutique mentions at some point the older Companies outsource production or part of it elsewhere, normally overseas.
The brands from my teenage cricket days have all gone the same way. With traditional methods still used in batmaking it may well be inevitable when they grow.
Personally my gut instinct is a small Company is likely to produce a better bat but there are of course many opinions on this