There seems to be quite a bit of confusion as to how rank a website better on Google. 
Many think it is just the sheer volume of the site. There are sites that we’ve seen that are loaded with paraphrased spun articles in the hope that they will rank higher for their keywords. Imagine if Google engineers were to allow such a thing to fall below their radars. Folks would have a field day with filling up empty keyword-keyword-keyword.html pages with gibberish on top of gibberish.
Sure, if you do an analysis of the top sites on Google, you will almost always find sites like Wikipedia, Yelp etc. However, it is not the sheer volume of the content of those sites, it is the quality of the content. Google engineers are laser focused on providing users content they will click on. Like all of us that write content, we want visitors to stay on our site. The long visitors stay on Google, the higher the chances that visitor interacts with various Google products and ad offerings.
So to settle the matter of does a large site rank better on Google, yes, but only if that large site offers quality content that is useful to visitors, that gets visitors to stay on that site for a while. Long answer, but it is accurate.
So let’s say you are building a site that is all about stocks. You would probably want your site to come up for various stock related search terms, but you would also want to come up with various stock ticker symbols. So let’s say your ticker is ABCDE, you build a page that has a filename of abcde.php. You add ABVDE in the title tag, and meta description tag, and you fill up the page with hard to follow information. Are people going to stay on your site? Are they going to share your site? Are they going to bookmark your site? – Probably not. All of these signals are not missed by Google. They keep tabs on all of it, particularly if you have Google Analytics running on your site and from the user’s perspective if your are logged into a Google account, or if that user is on Chrome. So as your can see, quality and usefulness go hand-in-hand. If you are going to offer quality content, you might as well make sure it has the proper layout, heading, bullet points, colors etc to ensure that the page has traction. You want eyeball to stay on your site.