You don't waste RAM, but you waste computing power and bandwidth when manipulating the display.
Did you really read what I wrote? I wrote: "Only if you have 256 colours, you don't waste precious RAM in a chunky mode."
An 8-colour chunky mode would need e.g. 640x256x1 bytes while an 8-colour planar mode takes only 640x256x3/8 bytes, i.e. in each chunky byte some of the bits would be "don't care" and thus wasted. Hence, a chunky mode would have been a waste of precious RAM unless it would have been a 256-colour chunky mode (there are 16-colour chunky modes in some PC gfx cards where each pixel takes on nibble). 256-colour modes were hardly feasible in 1985. When they eventually were, Commodore were too cheap or lazy or stupid to add them.