I was in the same boat in 2020 and upgrading from my beloved 2015 rMBP 13 with 8GB RAM and bought an early-2020 MBP 13 with 16GB RAM. Despite a five year difference, performance and battery life of the 2020 model didn't feel significant over my 2015 MBP. I was pretty disappointed at the "upgrade" but kept it. I had no idea M1 was going to drop in November. I grew to despise my 2020 Intel MBP and took the hit and traded it in towards an M1 MBA with 16GB and no regrets. Apple Silicon was a huge leap in performance and battery life, plus the fanless M1 Air was so much quieter than the 2020 Intel MBP.Not as fast as my MacBook Air from Spring 2020 plummeted in value in...Fall 2020.
It still works but that one still stings. I didn't yet know about the MacRumors Buyers' Guide, which I have pinned to my Start Page now.
Although, it probably still would have said to buy it since it's based solely on last released update.