Not sure what I'm missing here, but I see Signal using 37.5MB of memory. That doesn't seem egregious, but I'm also not familiar with what other Electron apps use.
A fresh launch without logging in or having it run for any period of time immediately uses 211.2MB:
1. Signal: 58.3MB
2. Signal Helper: 128.6MB
3. Signal Helper: 24.3MB
After logging in and starting a few conversations I quickly see the total rise to over 350MB.