There are about 800 threads asking the same question of what was formally the base 8GB vs. 16GB. Fans will overwhelming push base as plenty for everyone... even some "99%" will be slung. Fans always push what Apple has for sale now. Later, when there is a problem with sometimes very passionate advice like this, they'll basically blame you for buying too little back in 2024 and recommend buying a new Mac as the remedy. That's great for Apple and not so great for you... but crucial to considering such input: they are fans of Apple, not you.
The key to your question depends on how one interprets average. You'll likely get a bunch of "I only have 8GB and that's plenty for everything I throw at it" replies... and "I'm still doing just fine with only 4GB on my MB."
What you need to do is NOT think about the great ambiguity of "average" but try to best guess what you want to do with this Mac for life of device. Try to anticipate the most demanding things you'll do with it up to and including about year 2031 or so. If you can anticipate getting into anything that spikes RAM need, you probably need to pay up the hefty premium for that extra 8GB... because you can't add it later without buying a whole new Mac.
Same with storage but not quite the same degree of consideration since you can lean on external storage if you need more later. The hassle in external storage with a laptop is just connecting/disconnecting and carrying the extra stuff everywhere you may need it. That may seem like a very small hassle, but it can be a practical hassle every time you want to use the laptop.
Again, try to anticipate maximum future storage needs on device. If you can imagine getting towards about 80% of 512GB, pay up for 1TB. If nothing you do or anticipate is likely to fill more than about 50%-70%, you are probably OK with 512GB... mostly because you can fallback to an external drive if you don't imagine what you will actually need in the future very well.
Between the 2, prioritize RAM. There is no adding it later. But if you can afford both and think you'll need both, save up and pay (too much relatively) for both... and then not worry about this stuff for life of device.
Some may chime in arguing for base RAM because SSD SWAP can cover some spikes in RAM demand. That's true. But too many writes wear out SSDs and when the internal SSD conks, you have to buy a new Mac. So get enough RAM to minimize SWAP use and you don't have to worry about this issue either. Some fans will argue that SWAP should not be a concern because "modern SSDs can..." but hop back to similar worries about the SSD part of "Fusion" drives to see the same kind of "don't worry about it" posts and then search threads for problems with worn out SSDs in Fusion drives. Again, fans push/rationalize whatever Apple has for sale now. So anything you get from fans is very biased in support of the Corp’s objectives. Caveat Emptor!
Bottom line: if you can wildly guess/imagine a need for the added RAM through about 2031, pay up for it. And the same for upgrading the SSD though- if pinched- you can deal with the added hassle of external storage if you opt to not get enough internal SSD to cover your own needs through about 2031.
I hope this is helpful.