I stopped getting AppleCare for Macs years ago and didn't get it for my m4. Only time I ever used it in the past was my PowerBook G4, which had a problem with "forgetting" some of its RAM. This was a common problem and I think there may have even been a class-action lawsuit eventually. But I took mine in twice, the Apple Store employee said that they would replace it if a third try didn't fix it. It did fail again, but at that point I had already moved on to Intel.
I was planning to get it with my 2018 Mini, but it was a refurb and I didn't see any option to add AppleCare at purchase (which surprised me). Later, I went to add it, but got a cryptic error message that there was some problem with my Amex Card (obviously on their end because the card was fine). Was very surprised they had no option to use Apple Pay (this was 2020), so I manually entered my Apple Credit Card number and got a similar error, saying to contact support.
Having already wasted a bunch of time, I decided to try again later. Never got around to it though and 5 years later, the Mini is still just fine although I push it very hard. So, the end result is that I saved some money on AppleCare that I didn't need. 🙂