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While that may be true when working with ArcGIS to build and export shapefiles, softwares like QGis can create .shp with sizes of multiple times what you mention, in which cases the above error occurs. I'm still to this day trying to find a solution to that error as it seems you guys have put a fail safe limit in the import function for ESRI's .shp format to limit the size.
I can assure you that my file is not corrupted as it loads perfectly in any other software except Alteryx, which makes this really frustrating.