The "model card" concept actually comes from a pre-LLM Google paper (https://arxiv.org/abs/1810.03993), where the example cards did fit on a single page. The concept quickly became a standard component of AI governance frameworks, and Hugging Face adopted it as a reasonable standard format for a model README. As LLMs emerged and became more capable at broader ranges of tasks, model cards expanded to the sizes we see today.
That makes sense. I recall a “battle card“ (“concise, easy-to-scan document that helps [sales] reps handle competitive conversations, respond to objections, and highlight key differentiators” per HubSpot) as about a half sheet document, which is congruent.