I think I bought the game after they removed the feeding requirement. Thanks for the explanation. 
As for your calculations…
…I confirm that you don’t need much (building elements) to be happy. 
Recently, I counted myself and fit in 370 elements (placed all workstations + one altar + maproom + extra furnace). Exactly 244 elements for buildings and 126 for the wall (using 104 foundations in total).
It’s enough for PvE for sure. 