Whenever I see a very big QR Code, I tend to tell myself that the digital marketing person in charge has forgotten to shorten it.
The more text you put in a QR Code, the more space it needs and hence the likelihood is very high for a person not able to scan the QR Code effectively.
In most cases, people want to have longer urls because they want to track the effectiveness. For example in the above screenshot, it is tracking that it comes from MRT Panel. It is still possible to do so when you shorten it using some free tools such as bit.ly or tinyurl.
Well on the other hand, how many percent of the smartphone owners have installed a QR Code reader? How many know about scanning QR Codes? These are some of the problems why QR Codes are still optional and are mainly for aesthetic instead. Advertisers will still put their URLs there just in case.