There is nothing wrong with the machine. Just like the M1 Air, the M2 Air uses a piece of metal as a "thermal sponge" to soak up the heat produced by the bursts of activity and then slowly radiate it away through the case. This gives the user a M2-level performance for 95 % of stuff you do on the machine (literally everything except long-running jobs like compiling huge codebases, exporting many minutes of video or rendering 3D graphics), but in a thin and light body, with no fan to make any noise or get clogged with dust.
If hit with a long-running, taxing job like exporting video, the CPU + GPU slow down to a level where they produce exactly the amount of heat that the machine is able do dissipate. All of this is expected, controlled and designed to work that way. "Thermal throttling" is just a stupid name, it isn't anything destructive, it isn't the last resort before the machine turns into a puddle of aluminium or anything.
Also, the M1 Air works the exact same way, the M1 inside is able to run at full clock speed for a couple of minutes before it slows down to a level that's sustainable. After some tens of minutes the machine reaches thermal equilibrium, the case is hot to the touch (not unbearably hot, but quite hot), the machine is dissipating heat by both radiation and convection and that's exactly what it was designed to do.
Nothing was wrong with the M1 Air design and I don't get why even moderately tech savvy Youtubers seem to think that something is suddenly wrong with the next generation.