Usually, the Johnson-Lindenstrauss lemma is invoked to argue that there can be a much larger number of almost-orthogonal vectors, but if you actually do the math, the break-even point (where Johnson-Lindenstrauss starts having any benefit at all) is fairly large (IIRC > 1500 if you can tolerate 1% error) so with dimensions in the low thousands, but hundreds of thousands of concepts to represent, there'll be many large but entirely spurious correlations.
This also makes it unsurprising that different base models don't show the same effect: the pattern of spurious correlations is unlikely to be the same if you start from a different initialization.