This is true, but if you gave emacs the 8 megabytes it wanted it ran great even at scale (lots of buffers into lots of giant open files) in my experience.
OTOH (also in my experience), Atom is somewhat Eclipse-esque (though admittedly not nearly as bad as Eclipse) in that the performance problems it has at scale cannot really be solved by throwing more hardware at it... whether you are on a relatively low-end laptop or a high end pro workstation with a 3ghz CPU and dozens of gigabytes of memory, if you open just a few big (>2 megabyte) files in Atom you're pretty hosed.
Of course, that was the reasoning behind it. RAM was expensive and allocating all the RAM on an Unix box to one process was 'unpopular'. Especially when there were more than one time-shared user on the machine.