The address space of a 32-bit application is 4GB. Some of that is reserved by Windows. By default 2GB but for Large Address Aware applications (such as the Delphi IDE) it's 1 GB. These values can be customized globally. Your hardware configuration (motherboard, etc..) can have an effect on the reserved size, btw.
https://learn.microsoft.com/en-us/windows/win32/memory/virtual-address-space
If you are running out of memory at 2.5GB then the IDE is trying to make an allocation of 0.5 GB or more. This seems unlikely so there could be something else going on. You might wait to check the size of "hardware reserved memory" on your system.
100 forms open at the same time is hardly a typical use case. Why would you ever want that?
FWIW, I just tried opening all the over 600 forms, frames and datamodules of a project with around 3 million lines of code. It uses DevExpress ribbon, docking, skins, grids, and controls, FireDAC, etc. That consumed 3.4 GB but happily compiled and linked. It's a 64-bit project.
I'm not saying that your problem isn't real but I don't think this problem is common enough that it alone justifies migrating the IDE to 64-bit. And I certainly don't think your rhetoric will help your case.