There was an old thought process from back in the ESX 3.x days that LUNs should only be 500GB.
But those days are gone, I've seen environments use all kinds of sizes.
Keep in mind your SAN will also dictate how big you should make your LUN's for best performance. In some cases a single VM can be given its own LUN/Datastore. It all depends on many factors.
General purpose VM's with no special performance requirements we tend to use 1TB datastores.