It's only that big because of static linking. Typically you're never statically linking your applications, but in this case it's necessary if you want to use libraries but only want the space-overhead from the code and data you use from the libraries.

It reminds me of a quote I read in the book, Expert C Programming: Deep C Secrets (an excellent book on C btw), that read: "Static linking is now functionally obsolete, and should be allowed to rest in peace." I kinda chuckled a bit when I saw.