It is set to come with either 16GB or 32GB of LPDDR5X-8533 memory-on-package, reducing the platform's footprint and improving performance compared to traditional platforms featuring either memory modules or soldered-down memory chips.
The bandwidth will be nice, but the real benefits are cost & power savings. I think you could probably achieve LPDDR5X-8533 off-package soldered (or LPCAMM modules?), but possibly at greater cost & power.
Note that LPDDR5(X) has significantly worse latency than regular DDR5. So, it's not a pure win, especially if they limit the memory datapath to just 128-bit. The main benefit for Apple of using on-package memory is their ability to scale up to 512-bit, but that certainly won't happen in a "thin & light" x86 laptop.