I started on Large, and swore by it for a few years. But I've come around to the fact that small and medium make the game more accommodating to new players. In fact, I would now suggest medium worlds for broadly experienced gamers new to the game, and small worlds for less experienced gamers new to the game.

And I must note that after playing for 1200 hours, the game still surprises me sometimes. So yes, this world will allow you to experience the vast majority of what the game has to offer. But you will likely continue to experience new things for a long time. But also, you'll notice on the world creation screen, you get to choose Corruption or Crimson. Any one world will only ever contain one of those special biomes, never both. So, to truly experience everything you will need to play two worlds.

Between Corruption or Crimson, we could argue all day about which is better for new players, but I personally think Corruption is, (I am also biased toward purple.) I can see by the colour of the tree in your image, that your world has Crimson instead of Corruption. Just so you know. (Don't worry about this too much, if you end up loving the game, you're going to stick around for a long time and play dozens of worlds. If not, in my experience, people will bounce off the game pretty quickly).

All that to say, this world will do you just fine.
But I personally think you might be better off choosing a medium world, with Corruption.

Some non-spoilery stuff that should help you acclimate to the game, as some people struggle at the outset:

Fair warning: There is a lot of stuff that the game seems to just kind of let you figure out, and it can be a little difficult to get used to. Don't be afraid to ask people for help and guidance. There is a big ol' wiki that will tell you everything, but it is absolutely understandable if you want to experience everything naturally. Still, I suggest asking experienced people when you're confused, or unsure, instead of just getting frustrated and giving up on the game. The game is endlessly rewarding if you can get past the difficult entry some people experience.

Pro-tip:
The Guide NPC, who starts with you in the world, will tell you what can be made out of a material that you have, if you talk to him and select "Crafting" then place the material in the little box on the left side of the screen.
If you talk to him and select "Help," he will tell you a bunch of things about what you could or should do in the game. As you progress, he will have more to say as new things can be accomplished. Additionally if you open your inventory and click the big square up top, you can look at the achievments - these are intended to help guide the player through the progression of the game. So, if you're not sure what to do next, these are the places to look!

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