That’s an amount of gear and people comparable to what a mid-sized European country could have and what a big European country could muster on short notice. It’s “only” a factor of 2 or 3 less than what Russia prepared for Ukraine at the beginning. It’s likely more than the combined forces of the Baltic states’ militaries and the NATO contingents stationed there.
With a generous dose of optimism it is a force that would at least hold a conventional invasion at bay, if not defeat it via superior tech and sea support. It is a lot even in absolute terms, for an exercise it’s massive.