Having more VRAM doesn't give you more performance, it only makes you capable of displaying higher details provided you have the bandwidth and computational performance to go along with it. A theoretical "9050 XT" would be way too slow to make any real use for 12 GB during gaming, and would probably approach ~10 FPS in loads that actually requires it. Meanwhile, having faster and slightly more expensive VRAM would probably yield an extra ~3-5% performance across the board, which is way more valuable to the customer than extra VRAM which would only come into play when running unrealistic uses cases no buyer would ever do.
It does not need to use 12GB to be of benefit. Once you are using 8.5GB you will see and feel the benefit of more VRAM and frequently titles at 1080p are using over 8GB and there are more on the horizon.