The 24/1tb makes sense in the 15in model. I currently have that configuration in my Apple bag .....
My current setup is:
iPhone 14 Pro Max
iPad Pro M1 11in
-- insert laptop here --
M1 Mini as desktop unit
There is an M2 Macbook Pro 14 on my desk as the work computer and that has provided a nice comparison to want a lightweight 15in model.
The only reason I'm considering a personal laptop at all is because I'm a power user; Finder with multiple tabs, keyboard shortcut aficionado, copy/paste, drag/drop, multiple browser windows with multiple tabs each, and so on, and the Mac OS is far superior to iPadOS in that regard. My last trip, with iphone/ipad, was limited by those OSs. The Air seems like a good unit for 'power' travel, especially in the stock market trading aspect. The desktop versions of ThinkorSwim and TradingView are much better than their mobile equivalents and the desktop versions are RAM hungry.
The iPad, with the magic keyboard, is great for consuming content, social media and the like, especially for use on an airplane. The keyboard makes for a great stand, has the trackpad, can still use many keyboard shortcuts, and has a USB-C charge-only port in the spine of the case. This saves me from plugging/unplugging from my more expensive unit and avoids having a cable sticking out there in the universe.
With iMovie, only occasionally do I run into the limits of iMovie so the iPadOS and Mac OS versions are fine.
My Macbook 12 was always limited by the 256gb SSD but even so it only made it about two years before the 8gb ram became a real limiting factor, especially with OS updates. Now it cannot handle iPhone 14/GoPro 4k video lol while the M1 iPad handles it fine.
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