Bit in this context refers to the Shannon from information theory. 1 bit of information (that is, 1 shannon) is the amount of information you receive from observing an event with a 50% chance of occurring. 10 bits would be equivalent to the amount of information learned from observing an event with about a 0.1% chance of occurring. So 10 bits in this context is actually not that small of a number.
Bit in this context refers to the Shannon from information theory. 1 bit of information (that is, 1 shannon) is the amount of information you receive from observing an event with a 50% chance of occurring. 10 bits would be equivalent to the amount of information learned from observing an event with about a 0.1% chance of occurring. So 10 bits in this context is actually not that small of a number.