I hope there will be a lower cost entry level 16" with the M1 chip, and higher end models with say M1X . Some don't need anything more powerful than M1 but want the screen estate. I'd love to know what the battery life would be if they just put an M1 in the existing 16".
You'd LIKE a bigger screen but you don't NEED it do you. I've easily used my M1 MacBook Air over the 16" MacBook Pro - there's nothing I can't do with a slightly smaller screen size.