I know nothing about display technology. I'm trying to learn. Is it correct that OLED has risk for burn-in whereas mini-LED (and IPS) does not?
Yes you are correct.
However Windows laptops have been selling with OLED screens for years and burn in is not a huge issue. It does happen even on phones.
No screen technology is perfect. I like OLED screens and I have has Windows laptop with 4k OLED, MBP with Mini LED and regular IPS.
In the old days we had TFT and WVA which were pretty bad.
After using gaming laptops with 240hz ips displays, to 120hz mini led display on MBP I have come to think unless you are gaming the higher refresh rate on a laptop is not very significant.
To the OP,
On the current MBP 14" and 16" Pro Motion is somewhat defeated by the monitors slow response time leading to text tearing and blur in motion.
Between the Mini Led IPS screen with Pro Motion and the MBA M2 without it you can barely if at all tell any difference unless they are side by side.
I like both screens for different reasons but until we get micro led and less flicker I prefer regular old edge lit IPS like that in the M2 MBA. It just seems easier on my eyes. Would I like Pro Motion on MBA screen sure as the IPS display would have a faster response time making the Pro Motion more noticeable like on the 11" iPad Pro.
That being said there are pros and cons to both types of screens. The edge lit IPS screens can have backlight bleed along the edges of the display and it seems with Apple it is a bit of a lottery if you get a good or bad display. Colors are not as deep and blacks are not as black as the mini led in the Pros. But Pro Motion is almost a moot point. On the mini Led screens you have blooming which is a halo effect with bright images on a dark background and I suspect this is also a lottery in how much each screen actually does this. My M1 Max 16" MBP had this issue and it was very distracting on certain images. In some images it is like a fog or smearing of oil with very bright white lighting even without a dark background. There is also an issue with flickering for those that are sensitive causing eye strain and triggering headaches/migraines.
So it really comes down to picking your poison and living with it. The image quality on the M2 Air and M1 14/16 MBP are excellent across the board but if you like a more OLED type of experience or don't want to deal with edge light bleed and don't mind/aren't affected by the issues with mini led it is a better looking screen.
When Apple announces an OLED display or micro led display on a MBP I might try and pick one up. For now I personally prefer the regular IPS display without Promotion. I love it on my phone and really couldn't go back but on my laptop it is pretty useless except for possible battery life savings when looking at static images or gaming which I don't do on my Mac.
Just so you know I was in a similar position and sold my 16" M1 Max MBP several months ago. I was worried that I was going to miss the MBP and one of the many features so many people talk about on these forums.
In the end I don't regret my decision at all. The M2 MBA for me is a better computer and laptop for what I do and how I use my laptop. I enjoy using my MBA several times more than my MBP and still enjoy it to this day and there is nothing that I am lacking.
When I bought my MBP I was able to get a discount and sell it for close to what I paid and I also got the BTO M2 MBA at a discount so I made a good amount of money after everything was done. For me it made economic sense and I enjoy my Mac more and use it more than the behemoth that was the 16". Coming from many years of Intel laptops I had this idea that I had to have a Pro machine because I needed that extra horsepower but with M series chips that thinking was wrong. The regular M2 without a fan is incredibly fast and powerful in a way that previous airs[Intel] could never match and I realized with the MBP I was lugging this huge beast and using 10% of it's capabilities and at the sane time not enjoying its many features because it was so cumbersome for me to use.
Please understand that I am not trying to take anything away from the MBP 14/16" they are amazing laptops and if you need then the best you can get. But not everyone really needs that level of hardware.
Also despite what so many people repeat over and over again the 14" feels a LOT heavier than the M2 MBA and for me was not comfortable/ergonomic for me.
The 16" is a beast but that is what I want and expect in a large Pro machine-it is all about sustained load and horsepower and usability. Weight be dammed if I get a super solid chassis and tons of decent space for proper cooling. I love the 16" in every way if I needed it and didn't want something more portable.
So you have to figure out how you use your laptop, if it makes economic sense, and you need to see the M2 MBA in person and test it out. These things are so personal and only you will know what works best for you.