Funny you should ask as I've been vacillating between the two. I already have an M1 16" Pro, and it serves its purpose as it's my main WFH Mac, but I wanted something not as big, bulky and heavy for lighter more portable use. I need 2TB of storage as this will be my Music/Photos Mac, so there is still a decent price difference between the two.
However, I kind of gotten used to the MiniLED display on my 16" with those deep true blacks, etc., so if the M2 Air doesn't run cool and doesn't last all day on a single charge, and the display isn't great, I may just return it and get a similarly spec'd 14" Pro, even if it's a bit heavier. The MiniLED display would justify the price difference for me.