From my experience (film, tv), the proportion of character tropes to setting tropes on work pages is about 3:1 to 4:1. I am not opposed to seeing locations on a separate page though.
If a tab were designed for it, what would we use for the icon? I would've said a globe, but that's taken by the Franchise tab. Maybe some kind of map?
Characters Pages exist mostly to keep the main page from getting too big, of course that doesn't stop overzealous editors from putting everything possible on the Characters Pages.
When it comes to location, I guess I don't see much value in troping the settings separately from the rest of the work, but there are some cases where the setting is as important to the story as any character...but in that case, the setting could pass as a character quite well.
Currently Working On: Incorruptible Pure PurenessThere are lots of works where the various settings are distinct enough and sufficiently recurring that giving them a separate tab might be useful (for example, the regions of Hyrule in The Legend of Zelda, the planets in Star Wars). And while there are lots of works that don't have enough such settings to warrant a Locations tab, there are also lots of works that don't have enough characters to warrant a Characters tab (Tetris certainly doesn't). Similarly, a Slice of Life manga wouldn't need a Nightmare Fuel tab. Adding a Locations tab would simply be for the benefit of those works that could make use of it.
Usually if the list of setting or any other group tropes is too large to stay on the main page it just gets split off to WorkTitle.Setting Tropes or similar. Don't think having a seperate tab is really necessary but I am neutral to the subject
Macron's notes
It seems that the number of tropes dealing with settings, levels, etc. are roughly the same as the number for character tropes. Since the "Characters" pages were originally made to keep the main pages from getting too big, having "Locations" pages might help as well, especially for works that have a lot of Worldbuilding.
Any thoughts?