It is a lemon and it is the fastest lemon Apple ever made. But since third-party apps are not running fine on a just-released machine, return it and wait for M2. Or maybe M3. Or the Pro and Pro Max variants of these chips.
Your answer is hidden inside your own words, and you probably know it. Why waste your own time and that of others for validation you do not need? It is going to take time for the oceans to churn their water and dish out compatible apps. Smaller streaks refresh faster. Just relax and enjoy your computer and if you cannot enjoy this computer, I have no clue what you might enjoy today. You do not even mention which version of Office. Is it the latest they say is compatible with Big Sur? Is it the beta channel that should be working nicely with M1 chips? Or are you running 2011 or 2019?
We are far from the days when AMD processors had a hardware defect with their instruction sets that under some cases would cause issues to people, and needed a replacement. This one is not it. This is software, you know it, so why waste precious time, yours and other people's?