When the processor is throttling as much as 25% of its regular operating speed due to overheating, there is clearly a thermal design problem present!You are taking it as a given that there is some kind of thermal design problem in the Air? It seems to handle most normal tasks just fine while staying cool and when you through a massive render process at it, it protects itself and slow down a little to keep cool and then keeps doing the work. That seems exactly what you would want in a small, light, consumer laptop.
The argument that it "stays cool and works just fine when not really under a load" isn't really an excuse, because that means people should save their money and buy an older, previous generation CPU and laptop instead. (I think that's what many are already concluding in this situation. The cheaper Macbook M1 makes more sense for the "not doing anything requiring heavy CPU" crowd.)