I disagree with your Apple apologetics in this case. This is not merely a routine incremental rollover of their low-end model. With the step change in performance the new chips offer, Apple should have foreseen that many early adopters would be enthusiasts who are into things like video editing, etc. and who would desire the higher-spec 16/1tb configuration. It is beyond frustrating that these are so scarce in the retail channel right now.
Then you should blame COVID-19 instead of Apple. There are supply chain disruptions across the board right now, which has made a lot of product lines scarce. Have you tried to buy a printer or printer ink/toner lately? The same applies to the new AMD and nVidia GPUs, anything Oculus, game consoles, webcams, etc. When your manufacturing facilities are all either fully shut down or only partially operational due to the pandemic, it means product takes longer to produce and ship. It doesn't matter how well you anticipate demand if you can not produce the products in sufficient quantities to meet said demand.