For me M1 has an immense impact of how consider the Mac platform.
In the last years I often tried to implement my workflows to iPadOs and after the first 3 or two weeks of excitement I always get back to my Mac. There were always situations where iPadOs limits your workflow or at least the speed of the workflow. For example Videocalls (when you want to multitask with another app), file management, working in large excel files, etc.
Now, with M1 Chip, the advantages of an iPad in form of better battery life, no Fan, very snappy and all this in a very compact and lightweight gadget, have shrunk or still no longer exist. If an iPad want to compete with an MacBook Air, you need the Magic Keyboard and then the iPad is heavier and in my opinion not so compact as the MacBook Air.
The only time when I miss the iPad is for signing and marking documents and for some media consumption - that's why I like my iPad mini (and I hope there will be a new generation which supports Apple Pencil 2 and a slightly larger Display).
With Intel, the MacBook (Air or Pro) was a hot device which could not compete in battery life with the iPad. Now things have totally changed: The MacBook is a cooling device with its cold aluminum body ;-) and still get a workload done.