The original Game Boy display was 160x144 pixels. The font's name implies that it's made of 8x16 pixel characters. So I'm guessing each glyph in it is used to represent a unique configuration of 2x4 Game Boy pixels because that'd mean an 80x36 character terminal, a fairly common terminal size, would fit perfectly. Since the Game Boy display only has 2-bit color depth (so, 4 colors), that means the font would need 4^8 (65,536) glyphs.