Hey, thanks for reading it! Without running the numbers, I want to say: it's not impossible. I am just highlighting that we are far away from this and this is not happening soon.
There are a lot of proposals for scalability, I don't really have an overview, and also I do not feel technically qualified to discuss them currently. But regarding the state size, or let's say, state bloat, you might want to read about state-cleaning or dust-cleaning. There are proposals to just purge entries from the state which are provable non-recoverable accounts (i.e., balance smaller lowest possible transaction fee).
The good thing, we still have time, in that regard, to discuss proposals and eventually implement them.
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