One objection to this classification is that the distinct activities attributed to separate faculties might be different operations of a more general cognitive capacity. Merely distinguishing the retention of forms from the retention of meanings does not prove that each requires a separate bodily faculty.
Likewise, the premise that one faculty can perform only one kind of operation itself needs justification. Without it, plurality of functions does not establish plurality of organs.
A student can read Arabic, understand its meaning and remember it. These are distinguishable activities, but that fact alone does not establish a unique physical organ for each.
The criticism addresses a philosophical account of faculties, not the occurrence of perception or memory.