The more relays you have, generally speaking, the worse your experience gets because you have to make connections and write and read data to every single one of them. I had 40 about 2 months ago and it was a horrible experience for me. I had 30 a month ago and it was a horrible experience for me. I'm now in the upper teens and things are much better. This is just based on my personal experiences. You are correct though, the less relays you have, the less reach you have. That is, unless you use relays that post to multiple relays.