That is correct. Cache is very expensive. Adding more then you need would be suicidal for a processor company. It would also be suicidal for a processor company to build a processor that is significantly starved from not having enough cache.
Now I have not read the cold hard spec sheets of these processors yet as I don't have the time to put in the research but it is highly unlikely that Intel is short changing you. So i cannot say for certain if Intel and Apple are short changing their buyers in this case.
I must first define the term "throughput". Throughput is how much work the processor is getting done. Inside the processor there is Cache and there is CPU. Cache is memory and CPU is brains. Think of the Cache as an office desk and think of CPU as a secretary. The bigger the desk the more room she or he has to manage all her papers and work.
So the main idea is if you have a really smart secretary (CPU), then he or she can work optimally on a relatively small desk (Cache).
Thank you for an informative post! I love actually seeing well thought out explanations here with actual information, as opposed to the usual ranting, raving, spam, and personal stories.