When a texture is compressed using crunch compression, the new estimated memory usage field in the avatar stats shows the crunched size, not the actual size in memory after crunch decompression. This is not ideal, as it will encourage users to juice these numbers by crunch-compressing textures, when this doesn't actually help memory usage, and makes load hitching worse.
As a concrete example, this avatar shows a texture memory of 10.67 MB, but an estimates memory usage of 0.48 MB. The avatar contains a single 4k all-white texture that has been crunch-compressed. https://vrchat.com/home/avatar/avtr_ef3447a0-5fea-4a7d-aa5d-d4d9a75aeb74