It depends on the band's approach to recording. It's common now for bands with only 4-5 members to use 150 layers of guitars and effects on their records. Those bands tend to sound weak live because the songs aren't arranged to sound good live, and if you've listened to the record a lot you feel like you're missing out on a bunch of stuff. On the other hand, a band that is 4 people and only record one part for each member (1 guitar, 1 bass, one drum kit and vocals), those bands tend to sound even better live because of the extra energy. I think it's pretty rare these days to see really good new live bands, because musicians are getting so used to just keep adding stuff in the studio to make their songs sound powerful, so they never learn to sound powerful on their own.