Well, we've already got GPUs with 24GB, so 48GB probably isn't all that far off, but I don't think I'd try to game on them (or even want to afford them).
I didn't say you can't have GPUs with two different amounts of VRAM on it, I said 12GB and 16GB were unlikely and I explained why. If you look at the table I created above you can see several different GPUs throughout the years which have had two different amounts of VRAM offered on it.
The RX 480 has a 256-bit interface, so it's capable of having any of the following amounts of VRAM on it:
GDDR5/X 128-bit/256-bit = 1/2/4/8/16/32GB
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