It's not all about raw CPU power: The higher-end Mini also supports up to 64GB RAM, has 2 more TB/USB-C ports and can support three displays (and while the M1 has far better integrated graphics than the Intel Mini, Intel still supports external GPUs which can outpace the M1). A new high-end Mini will need a M1 Pro to compete with that.Is your thinking that the Intel i5 (3.2GHz 6‑core 8th‑generation Intel Core i7 if you upgrade it) outperforms the M1? I haven’t looked into this model specifically, but I guess I could do some googling at least on the benchmark results.
I don't see much sense in a M1 Pro with only 8GB esp. since one of the big changes from Pro to M1 Pro is more powerful graphics and RAM has to double as VRAM - and since Apple would have to go out of their way to make 8GB M1 Pro packages just for the Mini it probably wouldn't make economic sense. The RAM is still on separate dies, so binning doesn't come into it, but the two still get munged into the same package so they can't mix & match CPUs and RAM at build time.Apple will use the Pro M1 and the Mac Mini will have 16 GB as a base configuration, OR
Apple will use a new chip with Pro M1 and 8 GB…
Raise the price from what? The i5 Mini is already $400 more than the M1 Mini, and a new M1 Pro Mini would bear comparison to the i7 version which is $200 more than that. 8GB has been the base configuration for 4 years (and that was pretty mean to start with) so I think Apple could let the high-end Mac Mini start at 16GB without cuttin' their own throat - after all, the high-end 13" MBP went from 8GB to 16GB between 2018 and 2020 without a price bump.16GB RAM as base line in a Mn-based Mac mini would raise the price by US$200...
Sure, if there's a BTO RAM upgrade it'll be $200, but that's Apple's go-to upgrade price (it's the same across the range whether it involves supplying a different M1 or just replacing a $30 retail DIMM with a $50 one in an iMac) and has little to do with the actual cost or the price point of the base model. It's 2022, 16GB isn't an expensive, specialists-only luxury and and a > $1000 Mini (so, no display, keyboard, battery etc.) with only 8GB would be laughable.
I wouldn't put it past Apple to cheap out like that - but having to specially make 8GB M1 Pro chips would be a bit of a deterrent and I suspect that - if Apple were so inclined - they'd have done an 8GB version of the 14" MBP which would probably shift in larger numbers than the Mini.
Then, of course, if Apple pitches this as the Mac Pro Mini rather than the Mac Mini Pro, we'll be counting down from $5999 rather than counting up from $1099... I hope not.