I tried to use shotcut to export a video to GIF. Even at 10 FPS, 800x450 pixels, and ~12 seconds - it took 35 megabytes.
When I used this online converter: https://image.online-convert.com/convert-to-gif it created a higher FPS GIF and only took 6-7 MB.
Also, Shotcut seemed to mess up my colors, and very dark gray (almost black) became bluish.
Any ideas? Attached a screenshot of my settings.