RUSTUP_UNPACK_RAMunstable (default 400M, min 100M) Caps the amount of RAM rustup will use for IO tasks while unpacking.
Looking at the code it seems to try to figure out how much RAM is free to use for unpacking but caps memory used at 500 MiB by default.
DEFAULT_UNPACK_RAM_MAX appears to be both the "minimum known to work reliably" and the upper limit (unless explicitly overridden by the unstable option). Presumably then, setting it to a lower value is unreliable and setting it to a higher value is unnecessary.
Yeah it doesn't seem too useful for most people. You might want to open an issue to see if they'll consider removing it or if it's kept for a particular reason.