Without knowing much about the subject, I think this makes sense.I generally agree that aerodynamics has become more important in the last years, however i don't necessarily think it favors the small guys, who can get pretty aero even on their normal road bike. There have been a lot of, relatively, short guys that were amazing TTers in the past, from Hinault and Saronni in the late '70 and '80, to Berzin and Rominger in the '90, and even further back in time, Anquetil was no giant. I think using the aerobars is massive advantage for the tall guy cause it helps them reduce their frontal aera, something that is much harder with a road bike for them.
For example, I think Remco's aerodynamic advantage compared to the likes of Ganna or WvA would be even bigger when every TT had to be ridden on a road bike without aerobars.