We investigate qualitative properties of the underlying scheme of Rapoport–Zink formal moduli spaces of p-divisible groups (resp., shtukas). We single out those cases where the dimension of this underlying scheme is zero (resp., those where the dimension is the maximal possible). The model case for the first alternative is the Lubin–Tate moduli space, and the model case for the second alternative is the Drinfeld moduli space. We exhibit a complete list in both cases.