I'm simplifying. Sure. Over? Prolly no. You get the bandwidth the RAM on this MCP can do, from the datasheets I linked to. Do the math! And you're probably aware that swap gets paged in and out in chunks, not requiring random access from CPU. You could even figure how CPU would happily work along on another thread, while DMA does swap in/out a needed page concurrently. And you know that swap is not used 10 times per second but only occasionally when you're switching between huge tasks. The (very common) worst case delay introduced by this fast swap is 2 to 5 magnitudes smaller than that introduced by flash based swap which has delays on the nnn milliseconds range for writes.
I clearly said "user experience", _not_ device speed as measured by wetstones or bogomips.