Yes, memory was the main issue. The PC launched with 64KB of RAM. Technically there was a model with 16KB of RAM and no disk drive but I don't think they produced or sold many of those.

640

64, not 640.

Well, 16 KB - 256 KB, with a directly addressable 64 KB and a segmented architecture to reach further.

I had one of these in mid 1982 to late https://en.wikipedia.org/wiki/IBM_Personal_Computer

And it included a cassette interface.