AppleInsider has some unofficial comment from inside Apple:
Complaints about the potential lifespan of Apple Silicon Mac storage are causing concern that the current crop of M1 Macs could stop working within a few years — and have been stoked by unanswered questions, unreliable data, and a silent Apple.
appleinsider.com
Furthermore I was curious what the SMART readout “Available Spare Threshold” means. And the Kingston site came up with this:
When the Available Spare falls below the threshold indicated in this field, an
asynchronous event completion may occur. The value is indicated as a normalized percentage (0 to 100%).
Now I observed that all the M1 Macs report this threshold to be 99%. In view of the above description this seems way too high. I searched online for more SMART reports (non Apple) and found many reporting a 10-12% threshold.
So taking this and the AppleInsider newsbit into consideration I am also inclined to doubt the SMART readouts of the M1s.