It's not truly 8 cores. It cannot truly process 8 things simultaneously, it can only do 4 hence the 4 cores. 8 cores != 4c/8t
It can run 8 hardware threads at once, so yes, it can definitely "truly process" 8 things simultaneously. M1 also supports 8 hardware threads at once.
Anyway, this discussion illustrates very well what I mean. What exactly are you counting as cores? The ability to run simultaneous execution contexts (threads)? Independent hardware backends? Independent hardware frontends? Hardware register sets? Execution schedulers? Modular hardware building blocks? Any of these things make sense, this way or another, as cores.
For a consumer, a core, is well, a certain promise of performance. A consumer expects an 8-core CPU to be roughly twice as fast as a 4-core CPU. This is generally true with a symmetric design, not so much with an asymmetric design.
Ah, well, it's all moot in the end. One can make this things arbitrarily complex as well as arbitrarily simple. The only sure thing is that the convenient times when we had a single CPU core and reasoning about these things was easy are long gone