Ive posted a few times on this thread so apologies for repeating myself.
Having used the 16gb for a few days with my regular usage I can say I've had no issues so far compared to the 8Gb MBA. There is always 5-6gb+ free ram and memory pressure doesn't exceed 50%.
The 8Gb I had occasional beachballs / unresponsiveness until it sorted itself out and/or I closed a few things. So far on the 16Gb I have not had one issue doing the same as I did on the 8gb. Also I have yet to see the "this webpage is using a lot of memory" message when I've returned to demanding webpage (saw it all the time on 8Gb).
Conclusion : if you do a lot of demanding web browsing (some trading) / leave many tabs / windows running and like having many regular apps running / switching between them frequently + maybe have a 1080 YouTube video or 1080 twitch stream running then id advise you buy 16Gb RAM. I don't do any photo or video editing. Also, worrying about memory management wastes mental energy .. You don't want that.
The 8Gb is good for most people - casual / light users, and RAM is better utilised than on an 8gb intel ram machine. However, if you want to avoid any unexpected bottle necks / have a more smooth experience where you don't have to glance at the memory pressure in the menu bar or activity monitor then do yourself a favour and buy 16Gb - the extra £188 is worth it.
I HAD a £2.5k (!!) 2018 15" MBP intel with 16gb Ram / 512 SSD. It had a terrible keyboard, got ridiculously hot, fan noise, poor battery, beach balled sometimes, heavy etc. I regretted how much I spent on this pos.
I tried to make the base model MBA 8gb / 256 SSD work for me to save £373 - it didn't work out. Its like driving low powered car in fast moving traffic - it'll do the job but you'll always want little more power from time to time.
I NOW have the M1 MBA 16gb / 512 SSD / 7 GPU - great keyboard, never hot, no fan, lightweight + all day battery. And it cost £112 net after selling my 2018 intel MBP. Well worth it, no brainer. With 16gb I'm in no rush to buy the potential 14" - this 16Gb MBA will hopefully serve me for long time. But you never know .. 😉