Photos library size - what's too big?
Background:
I'm moving to a new iMac, and in the process realized that my "Photos Library" file (the one stored in the "Pictures" folder) is 427GB (yes, GB).
I've got ~66k items when I click the "All Photos" view in the app, with pictures and videos going back about 15 years.
I also realized there was also an "iPhoto Library" file in that "Pictures" folder which was ~375GB (yes, also GB). A quick search online (and faith in my multiple backups) and I deleted the "iPhoto Library" file, with no ill effect on the photos that appear in the Photos app. I gather that when I migrated from iPhoto to Photos, the old "iPhoto Library" file was just left there (the iPhoto app is still on the hard drive, so it sort of makes sense).
Still, I can't wrap my head around this single "Photos Library" file being over 400GB. That's nearly half of my iMac hard drive.
So I guess I have 2 questions:
1. Is there some guideline for how big that "Photos Library" file should be? I thought about attempting to export older pictures onto some other media if the current 400+GB size is (way?) too big.
2. Is there some way to optimize the library? I don't have a sense for what's normal, but when I launch the Photos app (2015 iMac, 3.2GHz chip, 8GB RAM) it takes about 15 seconds from double-click until I see all my photos. Strangely enough, before I deleted the "iPhoto Library" file, that same process took around 45 seconds...
Thanks in advance.
iMac, OS X El Capitan (10.11.3), Photos Version 1.3 (350.23.0)