Well this is disappointing news all around from Adobe and the Substance team; particularly announcing M1 support, when it's well...not. Hopefully they'll come around to the idea.
Funnily enough the Stager requirements page on the Adobe site states: "Also note that Stager is not currently compatible with Mac M1 models. We are working to address this issue."
Had been vaguely thinking about picking up the Substance Bundle while it had money off (although it always seams to have money off), but now a bit more on the fence about it; not convinced about the long term support.
Good news about cycles though so not all doom and gloom
Had expected it to be a fair while longer before anything started showing up,