I find it odd how some people are updating computers yearly now! I bought a M4 Max Studio, 16 core CPU and 40 core GPU. Now yes the M5 is powerful with those AI accelerators on its GPU but Apple forgot to mention loudly the M4 has ML accelerators on the M4, on the CPU and GPU, and both M5 and M4 also have a neural engine.
The M5 has more more power and better bandwidth but its still 3nm. Updating from 3nm to 3nm seems pointless for a spec bump you may or may not need each year, unless your company is paying for it or you have unlimited disposal income. Also Apple this year are rumoured to split CPU and GPU on the Studios, maybe on the Mac Mini too, it would make sense to rake in more revenue. More choice for us and more cash to pay for sure. Clever but it means Apple style prices for a CPU and GPU!
Maybe grab a M4 now and just be happy with it, its a good chip, and it will last years. If you can get one at a bargain price or wait for a M5 I would get it at a bargain price, because even with AI Apple speak on the GPU cores the M4's ML accelerators work well, Its no slouch. Just my thoughts on this chasing the next best thing all the time, as many companies are cutting back on build quality including Apple to make more profit, and that's worth taking into consideration.