Joel Salatin is somewhere in the middle. He field grazes his animals but fairly aggressively moves them around. With his management practices he's getting about 2-3 times the yield per acre of land as the average for his area. The practices and equipment necessary to do that are a better investment for him than buying more land.

I don't know how he's competing on size, but the claim is that grazing down to the ground is less efficient for cattle, and you should move them long before they get to the bottom of the grass stalks.