Also while there, clarify a few things about why we reduce the hash to 32 bits.

Co-authored-by: Eli Libman <eli@hyro.ai>
Co-authored-by: Yury Selivanov <yury@edgedb.com>
Co-authored-by: Łukasz Langa <lukasz@langa.pl>

(cherry picked from commit c1f5c903)