Not all thing are backup in iCloud, that's the most reason i concern.I was also a little surprised that people were expecting to be able to boot an Intel version of MacOS on an ARM Mac. I think the confusion shows what a great job Apple has done to make the transition as seamless as possible.
I don’t things are quite as different as you suggest though. Big Sur on ARM supports APFS just like Big Sur on Intel. A word document would have an identical disk image on both ARM and Intel. Unlike the 68k and PowerPC Macs, the ARM and Intel Macs are both little endian so while CPU instructions are different, data should look the same on both systems. When I setup a new Mac though much of my data is in iCloud and the rest I transfer via a NAS. An M1 Mac can access a NAS in the same way as an Intel Mac and you can install dmgs with x86 images just fine (you will need Rosetta to run them of course). ARM/Intel universal binaries can also be run from a shared network drive.
The internal SSD on almost all current Intel Macs isn’t even accessed directly by the Intel CPU, access is via a T2 chip which is a 64bit ARM coprocessor based on the A10 in the iPhone7.
Like me ,
Backup database in X86_64 not the same as ITANIUM or maybe future ARM for me. Apple does do good thing on rosseta but not all and we cannot blaim them but for me i think they polish it in 2 year but now one year. So now wonder a lot of bugs appear.
For me, i have various of backup style - hardisk, git for any issue. Sorry i don't rely on cloud folder yet.
Bugs can consider as few type
1. UX bugs - that's a lot in macos
2. functionality bugs
** software developer here.