Yes, more plausibly. The fact that Balatro is only a 150M download is definitely unusually small by modern game standards - Vampire Survivors is about ten times the size. But 150M is still too big to fit on an N64 game cartridge - those were limited to about 64M.
Balatro is 150MB without trying very hard. I'm sure it could be made to fit.
Just cutting the high resolution textures might get you there.