You can have the biggest sensor, while JPEGS that are only 8 bit vs the 12 -14 bits in a RAW, but the paintbrush doesn't make the painting, and the best paints in the world, will never make me a better artist. I'll admit that better tools make a craftsman more able to work with their talent level, but shooting RAW isn't the end, it's just a means.
You can have the headroom, pixels or anything else, with the best and most modern technology, but the results aren't dependent on that. The eye is, the editing, the composition, the exposure. Where the argument of RAW over JPG fails is, JPGs are not so inadequate that they can't produce a comparable image. Shooting a RAW image, doesn't automatically make the image better, or the resulting image better.
How fine, how large, how much latitude, does someone need? and ps when you save that RAW as a JPG, it's 8 bits.
I can see three potential positions or arguments here. I may be missing something else.
One is shoot RAW because you have more data and more control.
Another is, more pixels, bigger sensor is always better. More data. (Which is somewhat like the first)
Yet another is, the lens is the eye of the photo, you can't capture everything without the best lens.
I'm an advocate of the last group. I'm convinced that the lens is more important than the pixels or the bits. You can't correct an inherently, visually flawed image, with more pixels or more latitude. But I admit that's me. I'm sure there are people who have settled on pixels and sensors and other that want control, by shooting RAW.
Pick your personal poison obsession?
I don't find that shooting JPGs are a severe limitation.