Yes major problem - Im ready to throw it out the window.
Major memory leakage and drops me off the internet (all browsers and email). To reconnect to net need to restart each time Went with 8 GB RAM and with only email going and word running it runs out.
Only started when upgraded to Monterey. Cant roll back to Big Sur (wont allow me to roll back). Took it to Google store for diagnosis - "nothing wrong with memory cant help you".. they were useless. Given response from Apple PC starting to look good again!
This is unfortunately a software problem with Monterey affecting many people regardless of which Mac they are using...
Monterey does seem to have settled down on my iMac, but these issues are still blooming annoying (add expletives of your choice!) and I'm not happy with Apple for releasing such poor software.
But if your iMac came with Big Sur, then I'm pretty sure it is possible to reinstall that version of macOS. Though I've not yet gone through the process of reinstalling an Apple Silicon Mac myself yet, and I gather the process is a bit different from the Intel ones which I've clean installed many times in the past.
But I'm sure if you look through posts elsewhere on this site it'll answer the question of whether you can go back to Big Sur, and how to do it on your machine. But be a bit careful, as I think if you do it wrong you can brick an M1 Mac and need to connect it to another Mac to get it going again. But this may have long since been fixed...
I've thought about it, but at the moment the issues aren't so bad that I can't live with them until they're resolved with updates.
I've had problems with macOS updates in the past and they've always gone away after a few "point" updates of that version. But knowing this I'm really kicking myself for not waiting a good few months before upgrading to the latest version... I never learn!
But don't get my wrong - Although I'm defending my iMac, as I honestly still think it's the best computer I've ever owned (...and I've had a few since 1984!). Apple REALLY needs to sort out the quality control of its software fast or it's going to have some very unhappy customers...