It’s technically possible, but the required equipment and difficulty is many orders of magnitude above, say, obtaining a pentalobe screwdriver set (which seems to be some sort of repairability baseline here).
Also, given the silicon shortage, I doubt the RAM ICs will be available in the typical Shenzhen market for a couple years. A quick check of mouser for a 128Gb LPDDR5 module with a 128bit interface shows it’s $170 (and you’d need two for 32GB), so it’d be an expensive upgrade— and it’s likely a special pin-out like on the M1, which means that off the shelf parts like that probably wouldn’t work anyway.