Note that it's not a sale, this has been the regular price for about a year or so. The lowest I've seen was $779 at Microcenter and I think it saw it somewhere at $749 as well (actual sale). So that is just the normal price for it now.
It's still a good deal as the battery life is great and it's well built, but in the years since the M1 release other laptops have started to catch up at least in terms of performance, so M1 is no longer the crazy fast chip it once was. Nonetheless, the Air has the benefit of being fanless and complete silence is not something you can always expect from such cheaper devices.
Keep in mind that there is very little free space on that thing and the low memory sets a limit for multitasking.
It's just a question of your priorities and preferences, you can get a laptop with more storage and worse build quality for the same money, or more storage and similar build quality for more money, and so on. To me the Air would be the number 1 choice for devices under $1k.