I feel like a lot of informed buyers will be in the same circumstances. I really like the small air form factor and work around the port limitations, but if I was upgrading I'd have to strongly consider a 14" Pro on sale instead of an M2 Air right now. There are enough benefits (for me) to justify a small extra expense. What made the M1 the right buy for me when I bought it was saving almost $800.
It all depends on what you deem important, of course. I want 16GB of RAM and 1 TB of storage. I don't need 10 GPU cores, so the best two options for me are:
M2 Air, 8-core CPU, 10-Core GPU, 16 GB RAM, 1 TB SSD: $1,799, or $1,679 with education pricing (wife is a teacher)
M1 Pro 14, 8-core CPU, 14-core GPU, 16 GB RAM, 1 TB SSD: $2,199, or or $2,029 with education pricing. (The cheapest sale price I have seen on a MBP 14" with 1 TB of storage was $2,250, for the 10-core CPU version.)
I'll take the $350-400 in savings to the bank (or wine cellar) every time. I also greatly prefer the lighter weight; even if the computers were the same price, I'd likely opt for the Air simply because of the weight savings.
I look at it this way: the 14" Pro is loaded with premium features, of course, and you pay for them. I also consider the lighter weight and slimmer profile of the M2 Air to be premium features as well, however, and put greater value on them than the additional power of the 14" Pro, particularly since the M2 has more than enough power for my needs. That's where I am willing to put my money.
Admittedly the screen of the 14" Pro is alluring, but since I don't watch much video on laptops, it's really not worth $350-400 and additional weight to me.