1) No. If there's not enough RAM, the fastest CPU in the world won't run the program. (You need at least enough RAM to run the operating system, plus all the temporary storage the operating system needs, plus the app you're running plus all the temporary storage that app needs space for - at least. If you're running 2 apps at the same time, add more RAM. (If you want to run a second app and don't have enough RAM, most operating systems will swap the current program to the hard drive, then run the new program - then, if you want to look at something in the old program, swap the new one out to the hard drive and swap the old one back in. Which used to lead to the computer running and running and running, as the user kept clicking the mouse on different windows showing on the monitor, and nothing happening - because the computer kept trying to swap things back and forth, never finished, so it never got back to the user.) Android is a little better, in that all apps must keep their current state at all times, so Android can just kill an app if it needs the RAM space, then load the app back later to let it finish.
2) There's no hard drive, there's storage (which is memory that doesn't lose what's in it when you turn the power off). UFS may help, but the individual game might be CPU-bound, I/O (especially the screen)-bound or load-speed-bound. UFS will only help in load speed.
UFS 2.0 is coming out, but UFS 1 hasn't been implemented yet, and we may see a few more revisions before it is. One of the larger problems, though - and not something we can do anything about - is this current notion that anyone can write a game, by just using a game engine and a game writing app. It leads to very sloppy, very un-optimized and very slow games. Better programming will solve the problem a lot faster than faster UFS, and it would probably do it faster - but as long as a "developer" can sell enough copies to make a few bucks, we're going to see these hug, sloppy, slow apps. Writing Word takes a large team with a large company beind it, but writing an Android game can be done by a 14 year old, and if it takes 10 seconds to load and you don't buy it, he doesn't care. If he's making $30/week from it, he's happy. (Especially with all these "you get a tease for free, but every option costs another dollar" apps. Eventually you end up spending $30 on a game. A few people like that a week and the developer" is making a fortune - from a grindingly slow game.)
(We used to write for both speed and size. Even if you worked for a large company, you hid your initials or birthday in the code somewhere - and you didn't "sign" garbage. Today all anyone cares about s how much he can get for spending a few days "developing" a game, so we get slow games [that take a huge amount of resources - including a fast CPU and a lot of RAM].)