Tons of scenario's? Let's not exaggerate. How many games are going to give you access to the entire game content in an instant? Even fast travel doesn't do that because you're jumping between silo's from a content perspective so the worst case scenario is having to load an area of the game that isn't in VRAM, but then, only enough of it to actually start playing - and even that's only when you're far enough through the game to have opened up more of the world than you're able to fit in RAM. And much of the content would already be in VRAM anyway (the main character, certain audio files, some textures etc...). Having half the game content in RAM should be plenty for a R&C style game as it's not as if the game engine doesn't already known which worlds/environments are on the other side of that rift you're approaching, and which area of that environment you'll be exiting into.
Yes there will be some very niche scenario's were some game design compromises would have to be made but they'd be extremely limited in the grand scheme.
On the other hand, having the full game in VRAM (or a very significant chunk of it) would open all kinds of possibilities that aren't currently possible with less RAM and a fast SSD. So we need to stop trying to sell the fast SSD with less RAM as the perfect scenario, it's not, it's a compromise based mainly on cost that has advantages and disadvantages vs alternative, but possibly more expensive solutions.
How many 200GB games are we likely to see this generation with the PS5's 800GB SSD? The only game that comes close last gen is CoD and there is no mechanic in that game which allows the user to instantly access any area of the game content they wish, as there isn't in basically every game ever made because it's a crappy mechanic. Games block content from the user for good reason, because otherwise there's no sense of progression.
And they'd be crazy rare when you're at the point of 50% of the game in VRAM. Think about R&C for a moment. How many different environments are there? 8? So you could have comfortably have 3 of them in memory persistently which means all the game engine would need to know is which ones you're going to have access to ahead of time to make sure the correct ones are pre-loaded. Or another approach would be to have the entry areas for every portal stored in VRAM and then stream areas in beyond the entry point once you've passed through the portal.
More of everything is obviously better but there are absolutely pro's and cons from a game design and performance perspective of more RAM with slower IO vs less RAM with faster IO.