To trim the list and keep it in shape please do this:
In Edit / Preferences / Data Entry and Quickfill make sure you have a checkmark at [√] "Remove memorized payees not used in [xx] months" and set [xx] to something like "18". Do not set it to zero. IMHO, you should set the number to 12 or higher for best results, so that once-a-year payees don't vanish.
Restart Quicken for the change to take effect and housekeeping to clean up the Memorized Payee List.
Check the File Information box again to see the reduced count.
Wherever possible, use standardized Payee Names: Use "Starbucks" instead of "POS TRANS 070119 STARBU", "POS TRANS 070219 STARBU", "POS TRANS 070319 STARBU" . Downloaded payee names often contain useless extra stuff. Renaming Rules might help.