Paul Klipsch argued for less excursion, achieving that by using horn-loaded drivers. Others used multiple parallel drivers again to reduce the excursion of any single driver. In addition to various AES articles, there was an article in
Audio magazine about FMD (FM distortion) that presented a speaker using an array of drivers to minimize the effect.
A reminder that, as mentioned by myself and others (and per the equations presented by
@NTK), this distortion is the result of a moving source. It is not a simple addition (summation) of signals; the signals actually modulate each other to create new frequencies (distortion).