Sorry, but is the unbinned better than the binned then? And how do you tell which is which?
Yes, the un-binned is the full, better version: it is the one with more cores, either in CPU or GPU, usually in both.
In the M4 Pro example at hand, we have a binned version with 12 CPU cores (8 Performance or simply P cores and 4 Efficiency or simply E cores) and 16 GPU cores, and an unbinned version with 14 CPU cores (10P+4E) and 20 GPU cores. The cores are all of the same type, M4, their number changes: the unbinned version has 2 more CPU P-cores and 4 more GPU cores. More cores, more processing power for the respective CPU or GPU tasks. That is why the more powerful, unbinned version, is more expensive than the binned one. (Likewise, this is why even the binned M4 Pro chip is more powerful than the base M4 chip, which has 10 CPU cores configures as 4P+6E and 10 GPU cores).
In the so-called binned version of a chip the cores are physically there, but they have been deactivated. This happens for one of two reasons (or both): 1) The fabrication of microchips is a very complex and "delicate" process and in the massive number of produced chips, there is always a small portion of chips with a few (e.g., 1-2) defective cores in CPU or/and GPU. In order to not throw them in the trash and lose, as Apple, a large amount of money, they put them in the market as "binned" versions of the chip. 2) It fosters business segmentation of the products, i.e., a cheaper less powerful version and a more expensive, more powerful one, targeting a larger audience and keeping prices close to the different variants (after updating RAM, SSD storage, etc.) to "push" more customers to the more expensive option ("after upgrades, I am only 200$ away from the expensive, better option").
The same concept applies also to M3 Pro, with the binned version having 11 CPU cores (5P-6E) and 14 GPU cores and the unbinned version having 12 CPU cores (6P-6E) and 18 GPU cores, as opposed to base M3 which has 8 CPU cores (4P+4E) and, I think, 8 GPU cores - all being, of course, M3 cores.
Edit: What a great lost opportunity to write "in order to not throw the binned versions to the bin"!