Bike sizing is not an exact science and most of the variables, i.e. saddle height, handlebar position etc., can be modified by adjustment so the size of the frame isn't crucial. That said, some people will tell you it is, hence the availability of custom frames.
The difference between Giant and Colnago's approach is that Giant are competing on price so the fewer sizes they make the less their manufacturing costs are whereas Colnago are selling a premium product so tailoring the size to the customer suits their approach.
Bike sizing is not an exact science and most of the variables, i.e. saddle height, handlebar position etc., can be modified by adjustment so the size of the frame isn't crucial. That said, some people will tell you it is, hence the availability of custom frames.
The difference between Giant and Colnago's approach is that Giant are competing on price so the fewer sizes they make the less their manufacturing costs are whereas Colnago are selling a premium product so tailoring the size to the customer suits their approach.