(I cast Animate Thread....)
I always felt that "one page per spell level" was right. Generic mundane spellbooks had 100 pages, but the magic item
boccob's blessed book was super awesome - but had the limitation of only 50 pages. (Cantrips were either "1 page" - i.e. the
cantrip spell - or a half page each.)
I feel like I played a game where spell took up a random amount (still based on level), but I don't remember the details. It was either like "d6+SL" or maybe as rough as "d4/SL". (Cantrips were just 1 page.) Finding an enchanted grimoire wasn't just valuable for the spells therein, but also because they frequently contained more spells "normal" given the pages. Like maybe the creator wizard spent lots of time distilling the spells down to their most essential components, so ten 3rd level spells only took up 40 pages. Or maybe, like
@Minigiant said earlier in the thread, Pages 1-5 were "Zabir's Theory of Icyfication", and then all the ice-based spells in the book only required a page or two of implementation notes!
In Angband (ASCII exploration game), spellbooks were all themed, and each took up a vital one of your 26 inventory slots. You might only need /want one spell from each book, but if you didn't have the book, you had
none of the spells. But... books weren't necessarily exclusive: "Ye Basik Magik, Vol 1" might have
magic missile,
phase door,
detect evil, for example, while "Tenser's Teleportations" might have
phase door,
teleport self, and
teleport other; you might be able to switch out books for a more efficient weight/slot choice later. I found that little "minigame" fun (sometimes frustrating), because it made finding the next spellbook interesting despite having loads of spells - it might be more efficient for my playstyle!
Sadly, I think 5e's inherent design is what
@Athinar said (paraphrased): "Me got book, it have spells."
In the three 5e campaigns I'm in or running... there is one wizard, he's 5th level, and spellbooks are not an issue even if spells take d6+SL pages!