Why so long pin pitch ?
In fact, you are correct, because referring to UL 60065, figure 10, for 230 V mains (230 + 10% = 253 V x 1.41 = 357 V peak) the minimum clearance or creepage distance between conductors on PCBs results about 1.1 mm.
If you consider a pin diameter of 1.7 mm, a suitable pad size can be 2.5 mm (if an oval or rectangular pad is used, this can be the smaller dimension), so with a 3.96 mm pitch connector you get a 3.96 - 2.5 = 1.4 mm creepage distance, very close to the limit.
A 5.08 or 5.0 mm pitch connector could be used, but most people prefer to use the lower cost 3.96 mm pitch without a pin, resulting in 7.92 mm pitch.
Please look inside any consumer electronic product: you'll see JST VA connectors everywhere, expecially on single sided boards, where mechanical strength requires larger pads.
Best regards