I'm running 13TB on my Mac Pro with a standard 2TB boot drive, and 3+4+4 the fourth being a Time Machine Backup drive. It can hold some things, but isn't nearly large enough to hold all of my data (currently using 8TB between the first 3 storage drives).
You should consider not trying to dump all of your back-ups into one giant pile.
The growth and change rate of your boot/user account/ apps is likely going to be substantially different than your 3+4+4 collection. If that is largely a bunch of compressed media files that are largely being "collected" (if not archived ) then that is a completely different rate of change and growth.
Static media files don't really need to be back-up as much as duplicated. RAID 6 or 5 is a waste. It is multiple copies you need without the associated write holes.
If at 8GB (presuming most of that is on the 3+4+4 ) and relatively quickly going to fill to 12GB then you really should be looking pretty hard at tape. If you need two (or more ) copies of 10GB then the "all HDD" solution is going to start to get expensive. If on track to a couple years from now looking to crack the 20-25GB level that train is coming.
What is the best way to back all of this data up preferably using Time Machine?
Time Machine isn't a good match for spiting up the different volumes for different policies. It is free and oriented to "one big pile for everything" approach but the archiving methodology is questionable at these (and larger ) sizes.
For example your boot drive may have several variant versions of older files , executables , etc. stored in its TM archive. Meanwhile the vagarious media files are consuming the vast majority of the targeted TM disk. TM machine can decide to chuck the old versions from the boot drive to make room for the newer media files. Once chucked they are gone.
TM is designed for users who assign a drive with lots of extra room as being the target volume. For example users who on average consume 200-300GB and TM target drive of 1TB. It is
not designed for users who are using 850GB (of 1TB ) drive and 1TB TM target drive.
Can 12TB external RAID configs be read as a single drive?
You can construct a logical (virtual) drive that is increasingly larger but that drive increasingly becomes a single point of failure for your system.
If your single Time Machine drive fails you are screwed. You whole archive is gone.
That is the questionable premise with Time Machine. Users contemplate the failure of that drive being backed up and totally ignore the failures possible of the drive copying the data too.
When the TM volume is a single drive a simple clone of that drive can "back up the back up". When it a logical drive with multiple internal points of failure that gets more complicated.