This is an idea I’ve been toying with for a bit. There is a ton of media that includes unimportant information that doesn’t need to be stored pixel perfect. Storing large portions of the image data as text will save substantial amounts of storage, and as the reality of on-device image generation becoming commonplace sets in digital memories will become the main way people capture the world around them. I think this will inevitably be the next form of media capture (photography and video), not replacing other methods/ formats, but I could see things like phone cameras having saving images as digital memories set to default to save on storage.
currently, storage space is significantly cheaper than all the cpu power needed to generate the images from a text description. also, what if you actually wanted to view the backgroud of the object? and where's the advantage besides an at best 40 % increased storage space edficiency? after all, people are taking pictures to actually capture the moment. else they would do voice memos all the time.