Lots of good questions there John! I'll try to tackle a couple of them...
I think the sealed package thing depends on where the art will be, and how valuable it is to the owner. I don't know what it is like in your area. In mine it is humid, but indoors, with winter heating, not wildly so. Summer is not bad at all. I have one bathroom that would not be a problem using Coroplast or Mylar on the back, and one one that would be a problem. However, the stuff I own is not world class and I can always fix it if there is a problem. Wally and Buddy live in very humid areas, that I imagine would challange even the best HVAC systems. So they would have more call to use sealed framing even if the piece were not hugely valuable.
Also, some things are really fragile and can be damaged with changes in RH - think panel paintings, heavily inked screen prints, or very moisture reactive papers like gampi. And some things, if they are damaged, simply can't be fixed if they are moisture or water damaged. So sealed framing makes sense in those cases.
A true seal would protect over and beyond Coroplast and matboard. Maybe not so much for normal, benign conditions, but certainly for more extreme situations.
Sealed framing doesn't "suffocate" paper, and paper doesn't need fresh air; though you do bring up a good point. Research has shown that encapsulated (Mylar) paper that is acidic doesn't do as well as paper that has been deacidified or at least backed with zeolite paper. Thought there is very little air in the encapsulation, Mylar is not a perfect moisture barrier (and the chemical reactions that break down the paper require moisture to occur). So sealed framing would be better with zeolite mats in there, to absorb any volatile acids etc. emitted by the art. But since sealed framing uses glass, there would be a limited amount of moisture available inside of the package...
Last thought - paper (and textiles) actually last better at low RH - in the 20 - 30% - but they become more brittle, so need more care in handling. The 50% RH recommendation was devised for general collections, and isn't hard and fast as far as reality is concerned (that's a history of conservation kind of topic...) but it has been adopted as a standard by most institutions. An institution that wants to be included in the collections loan circuit needs to demonstrate that they can maintain that environment. Or, the loaning institution makes sure their loans are maintained in controlled mini environments, like sealed framing.
Rebecca