Well, of course! Redis is not (and has never been) a database, it's a data structure server, at best described as a cache. If jobs are added faster than they're removed, this is straight queueing theory 101 -- ideally you'd reject jobs at add-time, but otherwise you have to drop them.
Right. I think Redis hitting the disk would be a terrible tradeoff compared to making a new backend call. it probably wouldn't save you much time and I imagine it would lead to very strange and unpredictable behavior on the front end or trying to debug latency or data issues downstream