To those that are making the claim that "these chips aren't new" and that "they've been in use since the original iPad ten years ago". you're missing one VERY critical point: They're new to the Mac.
M1 is not A14, nor is it A14X, nor is it A14Z, nor is it A13, A12, A12X, A12Z, or any earlier Apple SoC. M1 is a brand new SoC, which, for the Mac, makes it a brand new chip on a brand new processor architecture.
If you're trying to deny that this is a Rev A product, you're wrong.
This is different from typical Rev A products in that pretty much every other component that ISN'T the logic board is the same as on the previous Intel versions of these Macs (with the replacement of the fan on the Air with a heat-spreader and with the replacement of removable RAM and some chassis differences on the mini being the only serious exceptions). The main logic boards are the main difference here. So, you're not likely going to get (a) bad batteries, (b) bad power supplies, and (c) bad displays (in the case of the Air and the 2-port 13" Pro). But as far as everything on the logic board is concerned, this is a Rev A product.
That said, not every Rev A Apple product sucks. I had the first Intel iMac and didn't have any problem with it until my internal hard drive failed some four years into my owning it. But it's still a Rev A product, and it's the first of a whole new architecture for the Mac, complete with brand new conventions (as well as the end of some long standing old ones [there is no SMC to reset anymore]). As others have said, I wouldn't worry about M1 Air reliability until we start seeing 100 page threads devoted to issues. Certainly, I'm way more comfortable with the idea of owning this Air than I was its most direct predecessor.