If there are serious limitations, I've yet to encounter them, coming from a MBP16 5500M + eGPU. As of writing this, using the 5k ext screen, I'm also watching a 4k video on the right from YouTube, and whatever resolution Netflix works at on the left screen. The same 3 ext screens I had with the MBP16. The DisplayLink process is consuming 60% of one core, out of 8 cores.
If Netflix isn't protected with HDCP, what is? All video sources I've ever tried work on all 3 displays. What are the other serious limitations you've experienced? For me DisplayLink is a bit like a flight of a bumblebee: some say it shouldn't float, yet it clearly does, as far as I can tell from personal experience.
There are
minor limitations (listed in previous posts), but I've yet to encounter a serious one, using M1+DisplayLink to make a living in a graphics-intensive line of work for many months now. And so it's not true to say
"You won't be able to use dual HDMI as the MacBook Air M1 supports only one external monitor" without adding asterisks and color behind that statement.
As for
@colemac's question, I've had pretty good luck with a Lenovo Hybrid USB-C/USB-A Dock.