As I said in other threads, if you're editing simple single camera videos for youtube, M1 mini is enough, for anything else, 16Gb is just not enough.
While editing relatively complicated, fast paced 15 minute video with multiple overlays and plugins used, by the time I'm 75% done my M1 mac mini with 16Gb can barely stay stable for an hour before either some plugins get disabled (the infamous "plugin stopped responding" garbage), FCPX crashes or rendering crashes. I now work in 5 minute chunks, export stages to prores, then import them back as a single file to timeline and work on the next 5 minute chunk. Despite all the hype and benchmarks from YT shills, first gen Silicon just doesn't cut the mustard and the fact that you now have laptops with 64Gb and most of the new lineup starts at 32Gb is a good proof that the whole "it's new type of memory because of access" was just a PR exercise.
The first generation Silicon is just an ipad on steroids, majority of its hardware is incomplete and crippled by design, all it has really going for it is incredible internal storage access speeds (at the cost of crippled external storage speeds). Monterey doesn't help with massive memory leaks all over the place, so at the moment, as I type it my M1 mini with two browsers open use over 10Gb out of 16gb of memory that never gets cleared or purged with uptime of 29 days. Most of it is taken by WindowServer and lsd.
Add to it the already discussed on multiple forums here random screen ghosting and flicker several times a day and you get a picture of what M1 is like as a "work horse", instead of benchmark machine on YouTube screen.
If you want to work with FCPX you still have to buy "something" out of Silicon range, but be a realist. Get as much memory and internal storage as you can. Even though it's a bit of a **** show for the money at the moment. Oh, and make sure you know about artificial hardware limitation on M1 Pro (no. of screens and graphical cores cap) and read up on slow screens on M1 Pro/Max to avoid real world disappointment.