This is kind of a funny thread.
Now I don't have an M1 iMac I have a M1 Mini but here are some real world observations in regards to the Mini.
For my usual work fan never spins up it always sits on min rev of around 1700 rpm. CPU temps bounce between 24-50 degrees with them mostly staying at sub 35 degrees.
Real work for me is AutoCAD, excel, outlook, teams, onedrive, onenote, word, powerpoint and web browser.
If I run Cinebench R23 CPU temps are at around 70 degrees and fan sits at around 1700 rpm so no spin up even when I slam the CPU.
I made a thread here:
So I ran cinebench r23 multicore test at the same time as I ran this in safari: http://www.kevs3d.co.uk/dev/shaders/lightbox.html (with rotate world activated) in full screen. This is the first time I've had the fan spin up (still couldn't hear the fan). The fan reach a speed of 2100 RPM...
forums.macrumors.com
Where I tried to get the fan speed up by running cinebench at the same time as I ran a browser based real time 3d animation. Only then when basically max straining both the CPU and the GPU I got to 96 degrees on cpu and 72 degrees on GPU i got the fan to ramp up.
So the conclusion of this long and convoluted post is that in most "real" work the one fan iMac will perform good and not be a problem. Because I'm assuming it will behave a bit like the Mini and what I have concluded is that you need to slam both CPU and GPU for a long time for it to even rev up the fan. And to be frank most real life work loads do not do this simultaneously. But if you have a work load that does this you should opt for the highest tier.
EDIT:// Also remember that the M1 is the low end offering from Apple, just because it happens to kick x86 computers ass it is still a fact that this is the lowest tier of apple computers that just happens to be able to punch way above their weight class.