So, it makes sense to me that they would assume only "human sized" data (and expect users to use another tool for looking at large files, "do one thing well" and all that) and opt for a slightly simpler programming model. Apparently, they decided that the assumption was wrong, and so changed the model.
The limit came about because trying to open a 100MB file as an html page (even without all the extra styling and interactive options) will break any browser. It was just a hard problem to solve, having an HTML-based editor deal with so much text at once.
I remember opening HTML files in that size range (they were logs) in IE6 around a decade or more ago, on a machine with <1GB of RAM, and it handled them just fine - there was a noticeable delay, but it wasn't unusable. Even searching for strings worked.
I'd love to test that. Anyone willing to privide an example file? HTML with css perhaps, no js. Should be pretty small when zipped.
Here's a 100MB HTML file (compressed to 300KB): https://curl.io/get/yt7zbmfq/0eb1564f570236acf1d9f304855a7c7...
As a side note, VIM opens it in an instant /troll