Come on now. The MBA is absolutely a balanced machine. Don't let the loss of x86 VMs cloud judgement (although I accept it is a big loss for a minority audience, me included). But to say it "does less" than a thermally challenged predecessor with a lousy, throttling dual-core i3 is a bit much. Sure the i3 could run Boot Camp, but why bother? The performance stank.How is this a "very balanced machine" it actually does less than its predecessor, although faster
The reason it's not priced higher other than the fact it's been put in a 3 year old case is Apple will know given current sales climate what the market can handle to achieve their goals of encouraging both users and developers etc to migrate to ARM
One could also argue the M1 machines gain ARM VMs and thousands of iPadOS/iOS apps. x86 apps in Windows on ARM run better in a Parallels Beta than on a Surface Pro X. That's ludicrous! Rosetta macOS apps are even more impressive. More importantly, they gain outstanding native performance and battery life in a thin thermal envelope.
As for the "3 year old case", Microsoft have been peddling the bezel-city Surface Pro design for 6 years now. The Book 3 is the same as the two before it as well.
Apple may justifiably draw criticism for their cynical pricing and form-over-function nonsense at times, but they nailed this. Microsoft and Intel have been sleeping on the job for years and deservedly got their pants pulled down.
Let's call a spade a spade here: it's a good machine, period.