This is a fair point. However, if you do what we do, Austin is arguably the second best place to live outside of SF/Bay Area. The concentration of very smart people, technology and startups in this city can be very surprising for people who haven't spent a lot of time here.
If it were ever to be declared a CSA with San Antonio, they'd be of similar size to Seattle-Tacoma or Minneapolis-St Paul. Which seem 'semi-large' to me, especially on global scene.