2wnin
Thank you for this excellent question!
I wasn't aware of this behaviour from GOS either, so I tried it right away:
I only restarted my Pixel 7 Pro for this, so I didn't really switch it off (warm start).
I just really shut down my Pixel 8 Pro and after a minute of cold start ...
Conclusion: I have the same new experience as you – all apps are there in RAM.
But: If an app's memory data is password-protected with a pass-phrase as e.g. in Threema messenger (and you are using this feature), then you have to type-in this pass-phrase again.