Personal comfort also comes into it.
The lid shouldn't be lose enough to move too much when you grab it and pull it around.
Put the lid on and fasten the chin strap. It should not have too much play and definately not wobble.

Your lid sounds the opposite (not wobbling!) but if it's too tight, you'll not want to wear it if it's uncomfortable!!
Some lids have interchangable padding (thicker and thinner) - possibly try that.

My current lid was nice and snug when I got it in November.
Probably the tightest lid I've ever had but it felt nice being snug but not uncomfortable.

I've lost weight in the last few weeks and my fat face is less fat so the lid is now a little loser.

Basically, too tight can be as bad as too lose - it's your call really I'm afraid!