Remember that isn't off the shelf RAM but RAM that is actually part of the M1 SoC itself. Also it is beating the pants off in terms of performance/watt off intel systems costing 3x to 4x. As the old adage goes you get what you pay for.
People keep comparing Macs to PC on upfront costs alone and that is, IMHO, the poorest comparison you can make. Even back in the 68x days Mac had a longer usable "as its" lifespan than PCs (2 to 3 years longer even back then) with less IT issues. In 2019, IBM showed that
workers were more productive with Macs than PCs.
"To add to these benefits, Previn noted that within IBM, seven engineers support 200,000 macOS devices versus the 20 engineers required to support 200,000 Windows devices.
That is a 186% increase in support engineering needed for Windows devices."
"It can be tempting to stop the conversation here and simply say “our organization can’t afford Mac.”
However, a deeper study of all the essential software required for security and deployments demonstrates how the uptick in cost for Mac is something of a mirage."
"Any organization serious about managing and securing Windows will need to add additional software and tools to the cost of their cheap PC, as opposed to having those features built into the operating system with Mac. Finally, when you add on the cost of management tools and support, the total cost of ownership gap can potentially be huge for an organization. In fact,
IBM found they saved between $273 - $543 per Mac they deployed compared to PCs."
Remember these numbers are coming from IBM - the company that comes to mind when you say "PC". If IBM of all people were going Mac in 2019 that should tell you something. The M1 makes that even more lopsided thanks as it out performs any PC in its perforce/watt class.
ARM dominates the mobile market and Apple showed that desktop ARM was viable from a performed POV and now everybody and their brother (except for Intel) is expanding into ARM for desktop.