To answer your question. Yes! Big bait=big fish!
But but but but, it's what your targeting with your big bait in the right areas that matter. You will not often encounter small bycatch with big baits or big lures!
For example, Often using a big flesh bait chasing jew may get picked apart by smaller fish but if your in the right area, leave it there as the feeding frenzy may entice the big fish to bite!
When ocean going and drifting an area, I always have a livie drifting behind me!
However, on the flip side. You can catch a big fish on a small hook, but you can't catch a small fish on a big hook!
That's my opinion anyway!
Cheers scratchie!!!