More importantly, how on earth does the game need 32 TIMES MORE MEMORY?

Easy. They're using more 4k, 2k, and 1k textures and higher poly models. That adds up real fucking quick. Don't know for sure, but I'd be surprised if the original used anything higher than 512x512.

For reference, a 512x512 texture takes up ~800kb, 1k is ~3MB, 2k is ~12MB, and 4k is ~48MB.