It's the same with us, except that we also lose a tall cabinet (door). But the kitchen island has massive storage space and of course the large pantry.
I wouldn't worry about storage space there.
It's not my thing at all... I don't mind the kitchen itself, but if you plan too little counter space on the wall (where it wouldn't be noticeable), the island has to take over. There's no need to argue with a spacious pantry, because that's a different room - and you simply need counter space where you cook, live, and prepare food.
That's my opinion!
When planning over 200 sqm of living space like here, I find the kitchen hidden in the corner somewhat "subordinate." I recently saw a kitchen on "The Perfect Dinner" with an island about 3 meters long... quite impractical, but again practical because of the counter space used for preparing food. But the real problem in my eyes was: the fridge was in the pantry - which meant the pantry door was constantly open and you could see the shelving-storage disaster. With the holiday lighting, it was wild and colorful on the shelves, which completely brought down the great kitchen. That's my take on outsourcing things you constantly need.