Flight recorders have a very long history with modern ones being engineered in the 1960s. They used film and magnetic tape loops, having very limited capacity. That's where we get 2 hours from. Early ones only ran for 30 minutes, so 2 hours is pretty good in comparison.
It's time to upgrade the regulations to match our current technology instead of 1990s limitations.
Absolutely. My comment is about why a regulation would be 2 hours when today we can get more capable, air rated parts. US regulation is lagging behind, but it was based on what was within reach 20+ years ago. Heck, I bet most craft would eventually become 25 hours voice recording as older standard recorders become no longer available.