the 1.5 MB (or 1.6) are the current correct minimal size.
Because the compiler can not know what resources are later loaded (like maybe a gif, or png is opened from an external file). So all the decoders must be included, even if you do not use them.
Probably some icons for error/warning dialogs, that could happen.
Similar a lot of other stuff is included. (but I do not have a full list)
I have made a test once. If you do not use gfx (except the program icon) => you can modify the LCL and throw out the code from the graphic unit (it is a bit more work than it sounds). That saves about another 100 MB.
But then it will affect the LCL for all apps, and you can't use it any more for apps that require gfx....