I received my M1 iPad tonight so I had a chance to compare with the M2. Both iPads are updated to iPad OS 16.1, and are set up exactly the same (the M1 set up by direct transfer from the M2). Both are on full brightness, with True Tone turned on, Dark mode on, and Night Shift enabled. The M1 is on the left, the M2 on the right. There is clearly a difference between the two, with red shift while scrolling very evident on the M2, but not on the M1.
While I hope that the other posters are correct and this can be fixed in software by Apple, I would rather not find out the hard way that it can't be (e.g., maybe it is related to the pencil hover function and is hardware related? I have no idea). So the M2 iPad is going back to Apple, and I will stick with the M1.
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