For system with limited RAM ressources, Photoshop does this purging by itself more frequently.
So a system with less RAM would not behave any different when creating new projects.
Even if photoshop doesn't purge itself, a Mac (or windows machine) with less memory will be more proactive about dropping cache.
But if you have the RAM spare dumping things out of cache "just because" before the OS actually DOES need that memory for something else is pointless. If a large memory allocation request comes in and there's a heap of unused cache, THAT is the time to drop it. Not before.
Totally unused memory is memory that could be doing something better, even if it is acting as a cache just in case something is requested again.
edit:
And yes, this is complicated to measure. This is why apple/macOS does this for you with the "memory pressure" graph. That's the most accurate overview of how stressed the machine is for resources as it represents how often the machine is trying to actually access memory that isn't available. The machine itself can calculate that based on far more metrics than it can display or that you can easily read on activity monitor.
I've pushed my M1 Pro into orange and eventually red memory pressure and it was still fairly responsive. Orange was not noticeable in terms of response compared to green for my usage.
YMMV, but suffice to say - if you want to get an overview of whether the machine is stressed for memory, use the memory pressure graph and don't over think it by trying to investigate the numbers. If the graph is orange or red - then go looking for what is consuming it all.
If your memory pressure is green you'e basically looking for problems that don't exist.