I personally would like to see 8GB on the "Pro" variants and 6GB on the regular iPhone 12. Will it happen? Of course not.
But man the way some people justify Apple being cheap on RAM is crazy. What's that extra 2-4GB going to cost them per phone? A few dollars in their supply chain?
A device should be coded to use all available RAM, even if you have 32GB and it is complete overkill. If programmed correctly, increased RAM would benefit everyone in some way or another. Stop making excuses for Apple. That being said - yes I think 12GB would be overkill in this day and age, but at the same time I would be happy if it happened.
I have 32GB on my hackintosh desktop. Do I need that much? No - probably not, but MacOS uses it in some capacity and speeds up the overall machine. (and well - I kind of do need it for the one game I still play - Cities Skylines, ha)