I suspect its the latter...hell, even his sig file is 4 lines long (and includes stuff that can be found in the User Profile).
A page is good. More than that, IN MOST CASES, is unwarranted and overkill. MUCH less than a page is just as bad, IMHO.
I read a PS from a surgical candidate once that was literally one paragraph long. It appeared to me that he didn't care about, probably wrote it 5 minutes before uploading it to ERAS and it told me a LOT about him (negative things I might add). Then again, once I interviewed him and saw there was nothing more to him than his stellar academics, I realized how fortelling his PS really was...the guy had absolutely nothing to say, no personality, etc.
So we do pay attention, but 3 pages is generally stretching it, even for medicine residencies.