It kinda is. . . . .
but that is exactly why they can get the great performance and forgiving characteristics out of it.
It's not big just to be big.
The Dark Lord of Optics/
@koshkin has been on a few podcasts discussing the optical design limits and what is typically penalized when trimming down physical size (length).
He even specifically discusses scopes larger objective lens and short lengths from the turret housing to the front of the objective. . . which is exactly describing the NX8 2-20. . . .
The 4-16x42 ATACR isn't small but it is very forgiving in actual use with huge depth of focus and great resolution.
And don't let any old school fuds tell you the 42mm front end won't perform in low light.