Following on from jghrist, utilities also often have a set of standard size transformers they use. This gives economies through discounts for quantitites, allows standard padmount or pole-top designs, and reduces reuirements for spares. So you can easily see a much larger than expected transformer in a given situation just because it is the nearest standard size, or was the only one available in time to meet the customer's required date for supply.
We also have to bear in mind the differences in "time constants" at play. A transformer takes hours, at worst tens of minutes, to be damaged by overload. An overcurrent relay (or fuse) takes fractions of seconds, at worst seconds, to operate. No point in "throttling" the transformer for short term overloads (in the order fo seconds) just because that's how the overcurrent curve is set. How would you deal with (for example) large air-con motor starting?
Bung
Life is non-linear...