FWIW, the 68000 transistors number is just marketing. I don't remember the exact number, but a full netlist has been produced from tracing the 68000 die and IIRC the actual transistor count is at least 20K less than that. Still a lot more than the ARM1 of course. I would guess that 68000 machine code is a fair bit denser than 32-bit ARM though which was important in the 80s when memory was still very expensive.