I agree. 120+ is WAY overboard. And some people wonder why their phones are slow. It only increases your odds of having something installed that is poorly coded, which in turn hurts performance.
Just having it installed shouldn't affect anything (aside from just taking up space) unless you are actually running it or it's in the background perhaps (again, only after actually running it).
Agree with C DM, if you're not running the app how will it slow down the phone? Some apps I need occasionally like say Tripadvisor - others daily. But I want to be able to access them.