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Programmer here. While scaling up the work of an increasing number of programmers is probably harder in a pure logistical way, I feel like you’re severely underestimating the difficulty in scaling up an actual artistic vision. Setting up piles of modelers to produce assets like they’re assembly line workers isn’t going to result in a compelling world.
In either case communication is the limiting factor and that scales with quadratic complexity with larger groups (everyone has to be on the same page with everyone else).
The studios who do this mostly aren’t looking for an actual artistic vision. Play any of the recent Ubisoft open world games and you see at best moments of it during distinct, isolated sections (usually trips caused by substance use) that were clearly tackled by smaller teams within the large group of developers. The rest were busy making 15 different types of trees.