Previously, I used a Chromium flag to mitigate this, but it seems that flag was removed in today's Edge Canary update.
Simply put, the text in the address bar is too big. It's hideous and distracting, and I would prefer it if the default was smaller.
(I have no qualms about it when the address bar is selected - I was happy that the flag only changed it in its idle state.)
Top: Edge Insider Canary, default behavior
Middle: Edge Insider Dev, with the flag enabled
Bottom: Old Edge
The flag in question!
Is this still seeming too large?
@v-gapart Yes, it is still just as large since when I posted this.