Don't these integrated ARM-based SoCs make much better use of RAM as opposed to old Intel-based boards? That's my understanding, anyway.
The benefits are in speed not capacity.
More to do with the faster storage allowing you to swap without noticing it as much. There was this whole trend when m1 first came out of people saying it didn't matter if you got the lowest spec because the ssd was so fast it made up for the lack of ram... totally ignoring that swapping like that was destroying their drives really fast.
My wife’s 8GB MacBook Air crashed yesterday with Firefox and Find My open and nothing else because of running out of RAM, so, sort of, but they’re not magic. (Find My was using 3GB of memory!)