It's Mentioned How Small The Throne Actually Is

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In the books, the Iron Throne is massive and comprised of thousands of swords from Aegon's fallen enemies. However, the description of the throne in the novels wasn't very realistic for the show to recreate, especially with the restricted budget during the first season. So, they decided to opt for a much smaller and simpler design. The show creators knew the change would annoy book fans, so they added in some dialogue to cover their tracks.

In a conversation between Vary and Littlefinger in season one, Varys states, "A thousand blades, taken from the hands of Aegon's fallen enemies. Forged in the fiery breath of Balerion the Dread." Littlefinger responds saying "There aren't a thousand blades. There aren't even two hundred. I've counted."