I do understand the choice for performance/flexibility here, and I applaud it. For the most part, when working on a project I find AP a joy to work with, and responsiveness is a big part of that.
Having said this, storage is equally important to me from the point of view of managing my photo editing as a whole. I know that disk storage is cheap, but for added security I have (a) Time Machine backups, and (b) backup in the cloud to cover for physical damage or loss. That does become a problem when I want to using AP as a focal point in my workflow (as opposed to using it for just a few photos at a time and then throwing the project away, only keeping the JPEG result).
The key phrase in MEB’s reply to me is “while working on a project”. Most of the time I am working on only a few projects. The others are dormant, but I want the opportunity to come back to them.
So what about catering for “while NOT working on a project”? In other words, an archive format optimized for space? When one is done with a project for the time being, it could be moved to archive format (at the discretion of the user).
From what I can see, there are great possibilities to save on space, if one does not mind to once in a while wait a bit while converting an archived project to working format; that is, when one wants to come back to it. Losless compression of pixel layers is but a beginning. For adjustments there are already macros, if you store them: no need to store the result. Gradients: can be stored with a few bytes. Brush strokes, with a bit of work: same. Once there is non-destructive develop: no need to store the developed version, saving enrmous amounts of space. Etc.
I am not suggesting that all of this can be done overnight, and that there are no complications (think of maintaining backward compatibility; but that must already be a concern with storing history anyway). But it could be done gradually. And in view of the many concerns about file size I read about, I think it would take AP right into another league for (semi-) professional work.