Most likely. Apple would be releasing new processors each year, just like they do with the iPhone. Sometimes, there will be some small improvements, but other times we can see more substantial redesign of the silicon with improved architecture. Previously, Apple had to rely on Intel which conditioned when new Macs could be released. Now Apple could decide its own refresh cycles. I suspect that M2 will be 10% more powerful than M1 in CPU and 20% in GPU performance. In any case, it would be strange to see MBA with M2, and then iMac with M1 Pro/Max in the same release.
Another alternatives is that we see iMac and MacMini with M1/Pro and a new Mac Pro with 2 and 4 CPU M1 Max configurations, and then push the M2 chips for later in 2022, when all Macs are duly upgraded to first gen Apple silicon. This makes most sense. MBA with M1 does not need refresh currently while these other Macs need it more urgently as they are running on Intel.