It can't be 44x44, it's not even square.

I can't tell what units you're measuring in, are you measuring hardware pixels on a hi-DPI screen? We're talking about logical pixels which is the only thing that makes sense to measure in and compare.

But comparing it with e.g. the refresh button on your browser, it's merely 17% taller than that, in your screenshot. So I literally don't know what "absolutely massive" you're talking about.

It seems perfectly fine to me. Maybe I'd make it a little narrower, but they probably wanted to balance the logo in the top left corner in terms of visual weight, so it makes sense.