Is More Less? Or is Less More? The Quality vs Quantity Debate

Is it better to have 500,000 followers on Twitter? Or is it better to have 100 followers who are engaged and targeted? Is it better to have a website with 5000 pages of content, or a website with 50 pages of well thought out, valuable material? I am not trying to dictate an answer by using value terms in my questions, despite the fact that I am very much of the opinion that less is more and quality trumps quantity, but recent events are arising which may be proving me wrong.

Williams, Nancy. Social Media Today (2009). Articles>Web Design>Social Networking>Marketing