Removing L3 frees up transistors to be spent on L1/L2. On a modern processor the vast majority of transistors are spent on caches.
Why this might help, ultimately, because the latency for getting something from L1 or L2 is a lot lower than the latency from L3 or main memory.
That said, this could hurt multithreaded performance. L1/2 are used for 1 core in the system. L3 is shared by all the cores and a package. So if you have a bunch of threads working on the same set of data, having no L3 would mean doing more main memory fetches.
Why this might help, ultimately, because the latency for getting something from L1 or L2 is a lot lower than the latency from L3 or main memory.
That said, this could hurt multithreaded performance. L1/2 are used for 1 core in the system. L3 is shared by all the cores and a package. So if you have a bunch of threads working on the same set of data, having no L3 would mean doing more main memory fetches.