Well, the P230/232 was designed in 1977. It's pretty comparable to other designs from that time period. Almost all of SIG's current line-up was in fact designed prior to the 90's or was a modification of a design from that period. You could ask the same question of HK as well. This idea of making everything as small as it can possibly be is actually a pretty recent trend (with the exception of sub-caliber mouse guns of course). So comparing the P232 to a gun which was designed in 2010 is kind of like comparing a 1977 car to a modern car.
Si vis pacem, para bellum.