The trend to small frames started in the early '90s (maybe even the '80s). The thought was weight savings of a smaller frame. A foot of seatpost showing, long stems (130-140mm). The larger frame should be more comfortable for long rides.
Those were hideous. And the praxis rings are hideously expensive. Of course I find the newer cranks, particularly shimano, to be hideous looking as well, so you can write that off as you wish.