This is pretty much it. Having it (the current Beta) on my M1 11 inch Pro, all the apps are running. Now, all the apps also have more than 5GB of memory with disk swapping. It already feels sluggish with a lot of apps open and yes, I understand it is a beta. But in the short time I am running, it really feels like I am running two iPads simultaneously. One iPad on an external 5K w/ MS Teams and Slack and Youtube. And my main screen running Notes, Safari, and Email. All at the same time with YT playing while I am scrolling through Facebook.
Anything with less than 8GB, I would think is a sub-par experience. Maybe Apple only allows 3 apps max and NO external monitor support. or the external monitor has a full-screen app. In that scenario, I woulds create more uproar.
Either way, I think 8GB is gonna be the bare bone minimum. I will definitely upgrade to M2 w/ 16GB this fall.