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Actually I do not merge Russia as for me this is excelent spoiling country, like 100% spoil all the time.
So big nations are bad for MC, boost, and funding.
Only good Point is, you need less CP, which is fine but maybe just not worth it.
India can get stronger than the EU and it can definitely beat the Eurasian Union. That's the power of large pop countries.
real power comes from population, if you have 15 dollars per capita GDP and 1.5b nation, your eco will grow 10 times faster then nation with 150m and if you run spoils in Russia and put everything into India you will get 6 slot megastate in a year and won't actually loss any investement points from going spoils due to population size amplification.
Depends Europe is very strong when you do 100% boost before merging for example. The small parts all have a good amount of IP and when you then merge it the boost merges without problems. You then merge to have the capacity for more stuff and surveil more at once etc but also advise more at once
Smaller nations have better cohesion, more efficient investment point generation, much, much cheaper direct investment costs and are much less annoying to lose to aliens. Obviously, there are advantages to big nations too but it's a trade off, and when you get too big the disadvantages start to outweigh the advantages.
There are some exceptions. If you're doing some kind of Africa only challenge run it's definately worth going for the African Union as soon as possible, but most of the time spending that much research on having a big blob on the map is kind of sub-optimal.
Also, if you are space-rushing uniting the EU is a far better opening than China or the US. You can end up with so much mission control you'll probably get yourself immediately destroyed because the aliens fear your hab spam.