Normally I would just assume this was intended, as it has been the case in practically all quests since it was added, but the hookshot settings listed on the wiki are different.

The Hookshot's Chain Length is listed as: 8
Where as in a blank quest file it's configured as: 50

(Longshot is, for reference, 99)

This means that in effect the default length of the hookshot is the same as the longshot, since screen's aren't close to 50 units long (probably a 16x16 tile in length per unit). Since the wiki configuration makes a hell of a lot more sense I figured I'd fill a report for it.