Gaming is by far one of the few areas that has been pushing M1 to its limits, both in terms of the thermal constraints and performance. You would be surprised if I say M1 on iPad Pro cannot sustain peak performance for very long before being forced to downclock to keep thermal under control.
Unless M3 makes massive improvements, I don’t find it attractive to upgrade.
Honestly haven’t found a game / App that isn’t also supported on my iPad Air 4