This hits a sweet spot I think for conversations too. I've been playing (for quite a while) on trying to encapsulate long running conversations.

You have the overriding context, facts that don't change very often at all. The participants names, their backgrounds etc.

Then you have some very fine grained facts (what they ate for breakfast this morning) which might be useful right now, but are irrelevant outside of a general trend over the longer term.

When trying to reconstruct a conversation you really need to find the right balance without pulling in everything that has ever been discussed.

This definitely is worth further investigation.