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My apologies since I don't know the exact reasons why you Mini is doing. Hopefully someone in this forum has an answer to your questions, or at least point you in the right direction. I wonder if the problem if the slowdown is not because the Mini, but your Wife network?

1. Try turning off every device in the network (phones, Apple TV, and so on) except for your Mini, give it a few seconds, and then try again to see if your Mini slows down. Hopefully someone in the thread can help you isolate the cause for the slowdown.

2. Sometimes the settings for automatic updates and installation of the Mini's OS slowdown your WiFi network (it uses to much of the Network's bandwidth). Did you update the OS soon after turning the Mini on? This is better done at the beginning just when you are setting up your new computer. Once that is out of the way, you can proceed with other tasks.

Before you return it you may be able to:
Call or schedule a call from Apple Support. When I have problems with an Apple device that's under warranty, I have found out that having an Apple Support technician taking to me on the phone to troubleshoot the malfunction is not a bad idea. In this case he or she sets a return or an exchange (device exchange, for example), and soon after the paperwork with the instructions are emailed to me (usually within 24 hours).
Thank you for those suggestions. I did try turning off all my other apple devices, but that didn’t make a difference. But I didn’t call apple support. Will do. I just never had to fuss so much with any of my new apple computers or devices.
 
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I bought the M4 Mac mini as a second computer for my bedroom, my modem/router is in the basement 2 floors below and I have zero problem with my Wi-Fi. In fact, it works even better than I expected.

Overall I'm so impressed with this computer that I want to use it more than my current daily driver Mac in the basement.
 
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