Large vision foundation models have been widely adopted for retinal disease classification without systematic evidence justifying their parameter requirements. In the present work we address two critical questions: First, are large domain-specific foundation models essential, or do compact general-purpose architectures suffice? Second, does specialized retinal pretraining justify its computational cost? To answer this, we benchmark initialization strategies across four retinal imaging classification tasks spanning Optical Coherence Tomography (OCT) and Color Fundus Photography (CFP) modalities: 8-class OCT classification, 3-class diabetic macular edema (DME), 5-class diabetic retinopathy (DR), and 3-class glaucoma (GL) detection. We evaluate 12-13 model configurations per task, including vision transformers (22.8M-86.6M parameters), Swin Transformers (27.6M-28.3M), ConvNeXt (28.6M), and the domain-specific RETFound models (303M), under identical training conditions. Our results challenge prevailing assumptions: First, we demonstrate that pretraining provides universal benefits (5.18-18.41% improvement), scaling with task difficulty. Second, compact architectures (27-29M) dominate Pareto frontiers; SwinV2-tiny achieves top-1 performance on three datasets. Third, RETFound (303M) justifies its computational cost only for challenging DR grading (accuracy of 71.15%), while ImageNet pretraining proves to be sufficient with all other tasks (DME accuracy: 99.24%, OCT accuracy: 97.96%). CFP tasks show larger pretraining accuracy gains (9.13-18.41%) than OCT (5.18%). Thus, the evidence suggests that compact general-purpose models deliver near-optimal performance for most retinal classification tasks; specialized foundation models warranted only for fine-grained discrimination under extreme class imbalance.