Modern RAM speed is specific because accesses can't happen too soon and shouldn't happen too long after data is ready. The speeds have to do with clocking of the data in and out of memory sequentially after the first location is accessed. Old RAM used to just care about overall speed - if your computer requires 80 nanosecond or faster, then that's the only measurement that matters, for the most part (this is before EDO).
Completely static chip designs can run at any speed, or can even be held in a stopped state. Chip designs with dynamic components (registers, caches, whatever, implemented using capacitors) can only be clocked as slow as the safe minimum speed, but since all Motorola m68020 / m68030 / m68881 / m68882 chips sold at speeds from 16 MHz (or 12 MHz, for the early '020) to 50 MHz, all chips will run safely at 16 MHz without issues.