That is, the reason you don't use battery backed DRAM for all of your photos is not because you don't want to, but because 8TB of the stuff would be very expensive. And so most of us have RAM leading to SSD leading to spinning platters.
So the reason to have a CPU cache at all is (insert interesting explanations of caches here). But the reason to have more than one CPU cache is because of the relative cost of the first cache, right ?
If cost was no object, wouldn't you just have a huge primary cache ?