To a large extent its just crazy. I'm sure there are a few applications that can benefit from it, but if you log to EEPROM, with the AT24C32's 1M write page endurance, logging one byte per second, using the full memory (so the wear is even), you can wear it out in under seven weeks! Memory on a RTC module that's actually going to be used as a logging buffer needs to have unlimited write endurance (i.e, RAM or FRAM). You also want lots of it to minimise the number of writes to SD card or other FLASH.