I believe the number will correspond to the new chip fabrication process just how they do it with the A-series.
M1 = 5nm process (2020)
M2 = 5nm+ process (2021)
M3 = 3nm process (2022)
M4 = 3nm+ process (2023)
So all the Mac chips coming out until the new 5nm+ process later next year will all use the M1 name with additional letters to denote additional core count and other features. So we’ll likely see something more like this:
If Apple does it "Just lie the A-series" this is exactly how it will not look.
There is no A11X , nor A13X. The letter modifier iPad Pro SoC A--X versions skipped intermediary fab process nodes to do bigger transistor budget bumps with major fabrication node shrinkage. The letter modifiers skipped "+" nodes and/or design re-optimization on same node.
Once the full Mac line-up is on M-series processors Apple is also unlikely to want to put the M-series into fab capacity contention with the bleeding edge A-series. Even if smaller in volume, chip dies that are 2x-3x large than the iPhone dies have multiplier in wafer start consumption. As Apple's dies get bigger their ability to 'race' other chip implementers to the most expensive fabrication process avaialble will go down. ( Especially when lots folks are scrambling over the exact same set of production machines. )
M1 = MBA, MBP 13” 2-port, Mm 2-port
8-core CPU
M1X = MBP 13” 4-port, Mm 4-port, MBP 16”, iMac 24”
12-core CPU
M1Z = iMac 30”, Mac Pro mini
18-core CPU
Doubtful that M1-series gets past 18 cores on 5nm. And more likely just an addition 4 cores like the jump from 8-> 12. So the M1Z with a iMac 27" , iMac 30-32" , 'half" Mac Pro (mini). The SoC stretched over multiple form factors.
Pretty good chance that Apple calls the Mac transition "complete" with the "Half sized" Mac Pro 'mini'. They go back into Rip van Winkle mode again (well actually probably already are in slumber mode on the primary system/chassis. ) on the full size Mac Pro and come out with something later in the M2 line up when they have more access to a 3nm shrink. I doubt Apple really wants to do that chip. Pretty likely past the two year deadline they gave themselves. But even then I'd dobutt they'd shoot for 32 cores. Maybe something in the 20-24 range. They probably are not going into the "core count" wars that the Threadripper, EPYC , Xeon SP , and datacenter ARM Neoverse N1 ( N2 , etc.) implementers are going to do.
Apple will add that much larger I/O needed for the larger case with far more slots, but "faster than the old Intel Mac Pro " will probably be in the sufficient enough requirements for them.