If you make a gap of 2.5mm between your finger and thumb you realise quite how small and insignificant a change this is.
Bike manufacturers like standardised fittings very much (obviously) and as a consequence crank lengths don't vary very much. By and large it is 165mm shortest to 175mm longest, a variation of less than 3% on standard 170mm cranks.
I would hazard a guess, based on frequenting this and other cycling forums, that adult rider heights vary between 5' and 6' 8" a variation of plus or minus 14% on an average of 5'10".
Clearly, if cranks were available as a proportional of leg length some much longer (and shorter) cranks would be warranted. When I tell people I use 200mm cranks they look at me as if I'm from the planet Zogg. They are only 1" longer than standard and offer me masses more comfort and efficiency. However, because they are outside of the industry standard many people are unable to comprehend that they can possibly work quoting all sorts of nonsense as to why they cannot or even should not be used.
There are lots of analogies than can be drawn which I won't otherwise I'll be here for ages and bore most readers rigid but I am a passionate believer in having cranks fitted as a specific percentage of leg length - as outlined in the articles linked to in SimonR's post above.