When I first got my M1 MBP it was very, very fast at things like opening apps, responding to desktop clicks, etc. But after one major version OS update, it's about the same as my old intel Mac. A surprising number of beachballs.
It's the software, not the hardware. Just another example of how sloppy the macOS developers have gotten.
On top of making everything in the OS a little harder to use, they've somehow made the fastest hardware platform feel kind of sluggish at times. A real feat.