Indeed, But memory can help in a lot of instances in terms of smoothness as less assets need to be swapped out, I remember when the Star Wars Titan Xp's came out with 12GB of memory, Basically a full fat 1080 Ti, And that simple 1GB of extra memory made a pretty nice difference to certain games smoothness, Wasn't immense but you could "feel" it ingame.
Although Micron are going a little over the top with saying it's a bottleneck, Yeah sure in scenarios where 16GB isn't enough but that is rare unless you run 4K maxed out path tracing etc....