It makes for more interesting party compositions, more diversified battle strategies, gives to the AI more targets diminishing the focus on your "squishy characters" (or giving you more options to actively protect them) and gives you more occasions to inject the action queue between enemies moves; it gives you significantly more chances to use more types of valuable equipment, it allows you to progress concurrently on more companions quests and hear more banters and interactions between characters at any given time.
Id love a 6 man party for all the roleplaying elements listed above which are more important to me than the combat, so even if no rebalance is done give us the option for 6 party members please.