668mg for an app?!

Can we put this app on a diet?! Does iMovie (sans content) truly require MORE space than Excel or Word? I could understand it being a processor hog, but why does this simple little app consume so much storage on our devices? The closest competitor uses ~80mg and I dont understand why this would require 10x more before editing a single video. Also, the ability to easily convert bloated .mov format into .mp4 would be appreciated.

LAX20531 about iMovie, v2.2.3