Didn't read code to verify - but logic tells me it should only need to be as large as maximum line to neutral load possibilities. Say you fed an apartment (common place to see 208/120 three wire) and had some electric space heating @ 208 volts, water heating @ 208 volts range (gets a little more complex because many have some 120 volt load), then you have already taken up some of the feeder capacity with loads that will not utilize the neutral. I don't see you needing full capacity neutral in that case but rather one that can handle the maximum possible current that may be imposed on the neutral. Keep in mind if there is extremely limited neutral load the feeder neutral still needs to be at least as large a the required EGC.