
(wikimedia.org)
The reason is geometry. Consider the image above for an industrial gas turbine (best image I found that will illustrate my point). If you change the blade chord to make it bigger to have fewer blades, they will have an extreme angle of attack and will end up like a wall.
If you maintain the same angle of attack and increase the chord, the disk will be a lot thicker, resulting in a very long engine. And just like delta wings, a deep chord's benefit is only viable at low speed (think Concorde wing-root).
So the high aspect ratio (thin blades) is the choice for an efficient engine. Also the bigger the blade, the much stronger its mounting needs to be (in case you want to try it).
I'm not sure if there's a typo in "the larger the blade, the larger the tip speed." But no, we've covered that before in case you meant the span. The larger the diameter, the slower the RPM, but the tip speed remains more or less the same.