The 14" feels like a more spacious 13" class screen - it does not feel like a 15" screen.
That said, it is an excellent screen and the portability benefits are enough that I choose my 14" over my 16" for nearly everything that isn't desk based.
Yeah this is my thought - as I'm going down from a 15" to a 14", I'm expecting to feel the smaller screen - but on balance it being a better choice for myself as almost always when I want to get actual work done I'll be clamshelling it and plugging it into at least one, usually two other monitors on a desk.
But for my casual use around when travelling, or just around the home, I do prefer the slightly smaller and lighter device.
But if you do primarily work on the laptop screen itself, I'd say the 16" makes more sense - especially given the price differences between the two aren't that significant.
One of the best things about the Apple silicon transition is that the choice between 14" and 16" is mostly just do you want bigger or smaller - don't have to compromise on power or functionality, just the things that naturally come with a bigger or smaller device: bigger screen, bigger battery - or more portable, lighter.
