So there might be more information you're expected to know in modern jobs -- but if you spend a bit more time consolidating rather than acquiring new information, you can build the foundations on which more advanced skills can rest.
For transparency: I work with the OP
We likely store information more in some type of loose graph structure, where we recall / "remember" something by re-creating links to that piece of information. There seems to be very very little "storage cost" for the billions of pieces of information we keep in our brains.
I would also argue that the time we spend memorizing "facts", of questionable utility, takes away from the time that could be spent on learning better methodologies for thinking.