Bodybuilding favors shorter guys. With shorter long bones, muscle bellies are proportionately longer than on taller guys which makes your muscles look bigger, and gives you a mechanical advantage. You also don't have to move the weights as far during lifts. I'm about 6 ft tall and on dead lifts I have to move the bar a good 24", and about the same, maybe a little less, on bench press.
Also, open bodybuilding competitions only group competitors by weight, not height, but it is much harder for taller guys to put on the same amount of mass as shorter guys in the same weight class. I will be eligible to compete next year as a light-heavyweight, up to 198 1/4 lbs. No doubt there will be guys 4 or 5 inches shorter than me which makes them look about 40 lbs heavier though we are close in weight.
The good news is that starting next year, the NPC has introduced a new division, called either "Classic Physique", or "Classic Bodybuilding". It seems these two names are being used interchangeably. This is for guys who don't want to compete in the Open division, where symmetry is arguably less important than sheer mass and muscularity, but still want to show their legs and perform bodybuilding posing routines, unlike the current "Physique" division, where you see no legs and little posing. What's great, IMO, is Classic competitors will be grouped by height/weight ratios. For example, I will be eligible to compete against other bodybuilders who are 5'11 to 6', and up to 207 lbs. I may want to compete in both Open and Classic divisions, so I'm going shoot for keeping my contest weight around 198.