As someone who only jumped to Mac in 2011 after 15 years of using Windows/x86 exclusively i am really concerned about application compatibility with this ARM move.
When i first got a Mac running Lion 10.7 (2011 Air 13"), PowerPC compatibility using Rosetta had just been removed so i missed out on running some of my favourite Windows games with ease as there was PowerPC versions of those games . I did find work arounds using WINE or buying Parallels but i just wanted the native Mac version to work

.
Slowly since owning one i had noticed the amount of programs for Mac had become the strongest it had ever been, and even games were slowly but surely becoming available more on Mac. Then Apple kill 32bit in Catalina and half the games no longer run and other old apps have been killed, so now thats all the Power PC software and all the 32 Bit gone.
Now we move to ARM what happens to the apps? Will the 64 bit apps i run today still be allowed to be run in years to come on ARM using emulation or will Apple pull the equivalent of the Rosetta engine for x64 emulation out in 4 years time and even worse with their new OS every year make holding onto the older OS that can run them even harder.
It does not matter how amazing an OS is to use , and MacOS has had a crisp clean consistent UI for 20 years that is very reliable, but if there are no apps to actually run i'm going to have a big problem.