It's usually more appropriate to think memory as a capability than a resource. Most of the time, memory is a binary attribute: either you have enough of it, or you don't. If your code accesses a certain chunk of data in unpredictable patterns, you need to have enough memory to store the data or the performance will suffer greatly.for your first point, I wouldn't necessarily put it as the ability to 'match the capabilities' of the intel Macs they replace.
RAM at the end of the day is a resource consumed by the machine and the development approach so far has been 'add more if needed' over 'maximise optimisation'.
I have now repeatedly seen how an M1 MBA is tens of times slower than an i9 iMac in relatively lightweight tasks, because 16 GB is not enough memory for those tasks. With 32 GB memory, the MBA would be noticeably faster than the iMac.