Which, with a dock (or daisy-chaining, but Apple has never supported that as far as I know) you could still use to connect multiple monitors ... just not with an M1, that's the limiting factor at the moment.
My Intel MacBook Air with Thunderbolt 3 drives two external displays over a single port via my TB3 dock. I'm waiting for the same with the next generation of Apple processors, as are many others I've seen here. More importantly for iPadOS, I'm also waiting for any way for an external display to be actually usable for anything besides apps with specific support for this feature, otherwise there's pretty much no point at the moment.