Currently prepared queries are using references, and store a lot of data in ETS. In SQL we take a different approach to identify queries, we have globally unique ids, which are generated at compile time. I could imagine a world where the only information needed to be stored would be the conn pid and id to signify that the query has been prepared in the specific connection or needed to be prepared.
To be clear, I'm not asking anyone to do this work, I can do it myself. But I want to gauge the core team if this kind of improvement is of intrest to them.