Sina Frei is 4’11”. Are there any shorter ones?
Perhaps she’s on the ideal wheel size for her height already and doesn’t need to follow the trend.
The whole notion of one wheel size for everyone is daft.
Physics seem to point to you riding the largest wheel size that doesn’t hold you bike.

While lots of BikeRumor readers are mentally held back by the mere existence for 32″, for normal people it’s just about what they prefer.
I do think for someone like Sina Frei, whose inseam appears well shorter than 29″, 32″ will probably be a game of a lot of diminishing returns.
S – 29″, winning World Cups with Sina who really might be an XS height rider
M – 32″
L – …
XL – 36″? My inseam is over 39″ and I ride XL bikes. I don’t think 36″ would be ideal for me though, but 32″ is a lot better than 29″ for me and doesn’t feel like it’s at the maximum I can handle.

Sina’s S Epic 9 has a longer than my daily XL hardtail. Relative bike size doesn’t appear to be much of a limitation on the World Cup.

I don’t think the sub-five-inch height market is very big in cycling.

Unless you’re talking about another measurement… I fail to see how hand length has anything to do with cycling.