Totally. But if I'm being extreme I would say that keeping your application state "memoized" into a single value may or may not be necessary for your applicatio

Totally. But if I'm being extreme I would say that keeping your application state "memoized" into a single value may or may not be necessary for your application. If it's not, you've just coupled all of the data models in your application to into the same entity, which makes it easier to turn those couplings into dependencies, which makes them harder to test and use separately later.