That is compressed.
1920x1080 = 2073600 pixels per frame
16 bit colour per pixel for RGB = 48bits per pixel total.
2073600 pixels x 48 bits = 99532800 bits
99532800 bits /8 = 12441600 bytes
=12150 kilobytes
= approx 12MB per frame uncompressed.
At 24fps for film, 1hr of footage = 60x60 seconds = 3600seconds
3600 seconds x 24 frames per second =86400 frames per hour.
86400 x 12MB = 1036800
= 1037GB per hour uncompressed.
So around two thousand gigabytes for a 2hr movie.
So with lagarith you end up with around 300GB per hour or so, with MSU about 200GB per hour, depending on how much grain there is etc. So around 300-500GB for a typical feature film.
Halve those numbers for 8bit RGB (24bit colour), cartoons compress better than action films etc. etc.
I am running on no sleep at all, so any or all of the above math could be wrong, but the lagarith compressed sample clip is around 100MB for less than 3 seconds, so it would come out at around 150GB per hour, and I think it is 8bit from memory, so it sounds about right.