I forgot where I got 28 from but it's indeed a mistake. For normal display you could get away with 1920 * 1080 * 8bit = 6MB. For a 10bit display it would be around 8MB. You do indeed often use 32bit float for high-quality processing but since what we're storing here is the output frame you would finish all that processing and then go down to 8 or 10bit per channel. So recalculating the math that's 8GB for 1 minute of video, still way too impractical.
I think the grandparent post is talking about decoding to RGB with a full 32-bit float per channel, which is 12 bytes per pixel rather than 8. The high precision is needed for HDR and for the extra processing you have to do to the pixels after they're decodeed - motion compensation, gamma correction, etc.