It's an interesting point of view and I can see where it's based on. But aren't smaller code camps a good thing for those who would like to make more out of their speaker sessions? How else would you gain a true experience in becoming a good speaker?
I can't see any reason why the two (large and small) couldn't exist side by side. Regional smaller events are a little less formal and give great opportunities to get a little more personal on the sessions, while the larger ones will probably give a lot more to talk about, but in a more pre-defined "protocol", if you will.
But I do believe that small events are a great way for beginner speakers to practice their routines, and to grow into a pro speaker for the bigger events.