Hello,
I can tell you that kernel_task is not the problem. For an 8 GB machine, a little over 1 GB for kernel_task is normal. EtreCheck is going to report low RAM if you are using swap space or if you get some killed system tasks.
A modern macOS system (such as Mojave) is designed to use all available RAM, and then some. It doesn't really matter if you use swap space or have killed system tasks. Your fast SSD will pick up the slack and you shouldn't ever notice a problem. I have seen some people get into a problem where they run out of space on their SSD. Then you're in a pickle.
Wait a minute. A 2012 iMac? Does that thing even have an SSD? If not, that would be unfortunate. Imagine taking your phone and replacing the flash storage with a mechanical hard drive. And make sure you don't use one of those fancy 7200 RPM drives. Find a really slow 5400 RPM drive. Now, how fast is your phone with that drive? If you upgrade an older Mac to Mojave, that is essentially what you are doing.
You should be able to upgrade the RAM on that machine. It is a 2012 model, so it has Thunderbolt. You could connect it to an external SSD and boot from that. The only problem is that external Thunderbolt devices that take SSDs are relatively rare and expensive. You have to find an older device too. Those will be even more expensive. Thunderbolt is not really backwards compatible. You may not be able to use a Thunderbolt 3 device on that machine. It depends on the device. No way for me to tell. I recently purchased an external Thunderbolt and didn't notice that it was USB-C. I got it home and it didn't work. It was bus-powered and my Thunderbolt-USB-C adapter didn't pass power in the other direction. I had to take it back to the store. Your mileage may vary.