Who knows what they'll call it, but for sake of our discussion I think it's fair to say the M1X would use the same CPU cores as M1, but simply have more of them (GPU approach is still TBD), while M2 would be something with updated CPU cores also to be used on the A15.
I would also expect an M1X to be built on the same 5nm process as the M1, but that is not guaranteed.
At this point it certainly seems possible they're going to skip the M1X and go straight to the M2... but if the M2 is a higher end chip designed for the larger MBP and the larger iMac, will there also be a "lite" version for the Air/13"/small iMac, or will they skip a year, or what. Until we go through a complete cycle with AS chip releases for all the Macs, we can't really assume how Apple is going to manage this whole thing. My current best guess is that Macs are handled like iPads and/or Apple Watches, where each model does not necessarily get a new CPU every year. The iPhone will be the only product that absolutely gets a new chip each year.
But we'll see. Exciting times.