Yes I think you're correctby David (no login)
Having programmed microchips PIC devices I know well that variable storage is much smaller than program memory.
The one I'm using at the moment(PIC16F887) has 8K of program memory which is "flashed" when the program is loaded, but it only has 368 bits of variable memory which can change during execution.
Constants can be put into program memory, but once you read them they have to be stored as a variable. So unless you have a lot of constants (such as a look-up table) very little is gained.
For "real computers" memory storage has not been a problem for several decades.