Their proxy is also a market distortion. By not pricing RAM at closer to its marginal cost, they encourage people to burn CPU instead of RAM in algorithm design, which in turn increases power usage and creates cooling problems.
You seem to be saying "In my imagination, their empirical observations are wrong." What you're saying could theoreticlly happen, but that doesn't mean it actually happens in real life.
You seem to be replying to a comment that exists in your imagination.
When targeting an environment where CPU usage is cheaper than a 30GB hash table, I'll choose the CPU usage. It's very simple. I am not actually commenting on anyone's empirical observations, theoretical, imagined, or otherwise.