We keep hearing about these giant models like GPT3 with 1.5 billion paramaters. Parameters are the things that change when we train a model, you can think about them as degrees of freedom. If you have a lot of parameters, theory made us believe that the model would just "overfit" the training data, e.g. memorize it. That's bad, because when new data comes in in production we'd expect the model to not be able to "generalize" to it, e.g. make accurate predictions on data it hasn't seen before, because it's just memorized training data instead of uncovering the "guiding principles" of the data so to speak.
In practice, these huge models are, in laymans terms, fucking awesome and work really well e.g. they generalize and work in production. No one understands why.
This paper is a survey or overview of what "too many paramaters" are, and all the research into why these models work even though they shouldn't.