JackNaylorPE :
If, as you say, efficiently heat transfers from the chip to the PCB, then what ? Since the chip is exposed to air with no backplate any additional cooling is limited to the minute surface area of those VRMs where they are exposed on the back of the board.
The weakest link when putting a heatsink on top of a plastic package is the plastic package which adds a few degrees per watt.
The surface area of the chips themlselves is of no importance: in a properly done power PCB layout, the surface-mount power chips' thermal pad is soldered to a power or ground plane (copper) which spans a large board area, often across two or more layers, making the chips' effective heatsinking area is much larger than the chips themselves. On a 6-8 layers PCB like the GTX1080, there should be more than enough copper under the FETs to handle the 2-4W per chip.
Take a GTX1080FTW and try comparing it in original factory state without the pads on the FETs, with pads on the FETs and one last time, by removing the MMCP altogether. If EVGA did its PCB layout reasonably well, the results will be much closer to using thermal pads than the original factory setup without them.
Here's one example of how to heatsink high power surface-mount FETs properly:
https://youtu.be/pKX50E_14MQ?t=2741
(Of course, that's quite a bit more than 3-4W per FET.)