I have a 2020 RAM 3500 Laramie SRW with the factory rear air leveling. Empty it was bouncy as expected. With my Leer shell and approx 300 lbs of gear in the bed and tires at 65 psi it is a pretty good ride on the highway. Still a bit rough on surface streets. Not a problem for me as my daily driver is my smooth riding 2016 1500 Ecodiesel.
The bed lowering only works under load. I've read that it takes a 500+ lbs load to operate, that may be hearsay, I don't know for sure. The manual says it will drop 1". However, when I put my trailer's 1100lb tongue weight on it the "bed lowering" drops it 2". I operate the bed lowering when unhitching the trailer, otherwise, the "rear leveling" is in effect and I would have to raise the trailer's hitch too high to get it off the hitch ball.