Design language

I'm finding the beta version functions quite smoothly and well. What I don't like is how far everything is spaced out. I used to be able to see all of my favorites (9 of them) on one screen. Now I only can, barely, if I use the entire height of my MacBook Air. The problem is made worse by the unnecessarily tall height of the dividers. I'm not sure why they're so large, but it compounds the issue.

I think there's some underlying assumption here that it becomes easier for the user to identify and select the login they're looking for if they're very separated by white space. I think the site icons do a lot of this work already, allowing the user to quickly identify a particular login. I know, too little space and things start to look cluttered, but I think it's skewed too far in the other direction.

And of course this also might be a personal preference. I, for one, would welcome variable spacing, like the Gmail interface offers: