Poor compression standards.
What eats the most is uncompressed .wav files and Textures.
Even those usually are compressed when downloading. But no i see games the downloads are 70Gb+.
I helped a friend on the Unreal engine bit back in 2016. For a number of base textures, you could either have a generate-on-the-fly textures, or pregenerated. The on-the-fly was something like 1/8th the size of the pregenerated, but took a little longer on gameboot (
we're talking milliseconds in time, but when you have several hundred of them...)
Texture resolution is likely one large culprit, i've not seen a reason to go above 1k textures, yet some textures are 4k or larger. On Skyrim i used a texture optimizer and repeatedly reduced the textures by half size until it got to about 2k and 1k in size and didn't notice a difference each time i booted the test game up until that point.
Another thing that takes a tonne of space is object placement. Skyrim the world is generated using seeds for locations of trees random base objects, textures, etc and then you use a delta for changed objects per section/sector; Without that Skyrim's base world would have taken many more gigabytes in size and probably wouldn't have been shipable as it was on disc. Morrowind on the other hand likely used bicubic for it's terrain where you have a 64x64 height map and you specify textures along with the differential, and objects like rocks are mostly placed to hide bad blending of textures.
Uncompressed audio is just stupid. I'd recommend going back to soundfonts and midi files, and only using pre-renedered audio when it just doesn't cut it. We're talking the difference of a few hundred k compared to dozens of megabytes, blending audio isn't that difficult and only voice samples and sounds that can't be sound-fonts should be actual audio files.
One of the largest files at all is premade videos usually for upgrade items or intros or other cutscenes instead of being in-engine. When you don't have the processing power (
or the complexity is prohibitive) pre-rendered will work. But the bitrate i've seen in some games video files are absurdly high, like 50Mbit/s. and some video is 4k resolution. Yeah they look nice, but lowering that a bit and reducing to 1080 would save dozens of gigabytes easily for something you barely see.