My era first half of 90's
They shrank (well Suntour did first) to save weight and it did, you didn't need the big 28 to 34 hunks of steel at the back and of course less metal at the front = less weight.
It also improved ground clearance and in effect pulled the rings away from the chainstays.
But I ran (and still do run) 48/36/24 front and 12-28/30/32 at the back and then when 11tooth came out 11/28 11/32
52 at the front was not uncommon when 12 was the smallest at the back.
I'm finding it very hard using the new SLX chainring sizes of 22 to 44 at the front. I spin out so easily and find the low gear too low. (11-28 at the back)
Odd as I've used Suntour MD for quite some time now but that is on another bike that likes to go slower :s and that has 20 tooth on the front and 11-26 I think on the rear (would need to check)
So it is small because the 11 tooth at the rear became possible, hence to keep the same ratio's the front rings have to become smaller.
Though with 9 speed you can get back the 32 sprocket have a decent run up a block and so not so much need for the small front. Probably why you can still get the now called 'trekking' front ring setup of 48/46/26.