STATUS

Nope. Not at all.

Portal is short, stuff like Bastian and Transistor is short, stuff like Journey.. there are many many well-known, prestigious and short titles out there.

It can be shorter still, of course. It's all about the experience.
For commercial games the only set-back is a short game that demands the same price as longer ones, for those with limited money and not-as-strictly limited time to play.
You may then argue that the value is still more important - but it will be judged by the price its given for its time as another factor.

It's not about the length it's what you do with it that counts.

It depends on the setting; I've repeatedly seen reviews of Remnants of Isolation mark its short length as a "con." (As in pro/con, not "con job")

author=Kylaila
People generally see it as a con when they love something and would love to have had even more of it, though.

I seem to recall reviews/comments of Okiku, Star Aprrentice being "too short". In truth, I doubt that it being longer would have been beneficial to the game. Not only was I running of of ideas for dungeons, but, things to do with the Wand of Blasting not to mentioned that the "funny budget" was tapped out.