I posted about the significant increase in memory usage some time ago (v6.8). This is still happening in v7b14. (MacBook Pro, M2).
The main reason seems to be an instant refreshing of the design view when making any modifications in the code view. Over a short period of time, the constant refresh process begins to consume more and more memory, and the code view starts lagging and becomes slow to respond. The memory usage stays fairly stable while working with the APIs.