32bits is just about large enough (within an order of magnitude sense) if the space was used more efficiently.
128bits I've heard described is like "every atom in the universe" big. If so, then 64 is probably enough for every atom on Earth.
Now I've just thought of another angle, similar to UUIDs. They are used because they can be assigned randomly without worry of collision. But I don't think IP6 addresses are being assigned randomly, hmm.