No, that is the already stripped down bare bones runtime. It's not actually that big, since jQuery (a JS library used on a huge number of web pages) is about 95kb when minified. On top of that most modern servers will send it over the network compressed, which will reduce the "empty" C2 script size from about 106kb to 35kb from a quick measurement.
Who or what is imposing a 250kb limit, why is the limit imposed, and does it apply before or after compression? It makes very little sense since a single image or music clip from the game could easily dwarf that.