Exactly. You pay higher RAM usage price once, for 5-30 seconds at the very beginning of the project (or if you make changes that invalidate the dependency graph, which is rather rare). In 95% of cases and 99.999% of idle time using the editor, you enjoy lower RAM usage.

And note that on dirty buffers Rust Glancer doesn't do reindexing at all: it reuses the last available analysis, plus it does syntax-based shallow overlay that is sufficient to be useful but doesn't necessarily detect semantic changes. It's a tradeoff, but this tradeoff makes Rust Glancer competitive in terms of latency with rust-analyzer without compromising RAM and while keeping your CPU cool.

> it completely reindexes the single file that’s saved

This is true, though I have to mention that change in the file might invalidate its reverse dependencies, which can make the partial analysis bigger than just one file/crate, but it's still very fast in practice.