I wish I came here to write a solution. But if this can just warm your heart up, by knowing you're not alone, know that I'm as disturb as you are regarding this not-thought-out change. I came here to post about the same problem.
I looked everywhere and there is no apparent settings to change that. I'm highly disturbed ! I'm glad some people are enjoying it without their glasses, but I use the smallest size font on my phone and can literally fit 30 words inside the space the clock is using now and it's basically TOO BIG. Soon, I'll be the one needing glasses because of the clock being set that way !!
My arm is not long enough to push it far enough away from my eyes. The phone can be 20' away and I can read the time. Beyond my own personal feeling, I judge this iPhone change to be extremely irrational. We should have the choice !! Why being imposed this only 1 option ?
Worst part : time doesn't matter to me !
If someone find a solution, please help us out !
I already wish the brightness of the screen could even go lower. If now, some of the font size can't be adjusted... i'm really gonna loose faith in Apple. And trust me, I prefer my feeling of safety and partnership to dominate in my relationship with Apple, over my feeling of desperation !
Sigh !
Please HELP !!!