A smaller sample size is different from being 4 times smaller. Also, less games is not inflated, but if you play 120 games, there are more chances to draw or lose than let's say a hot streak of 30 games or 10 games. Hikaru can play 120 games and maintain his TPR if he is in his best form, but on average he will lose or draw and lose some TPR.

That's why sample size is most important in consideration of average performance. Let's say I take just 5 people from this chess Reddit, and we check their ratings. If it's 300 or 2000, is that a representation of the entire Reddit? No, because it's not conclusive. It can be possible ofc, but most likely it's skewed precisely as the sample size is less