Open: Hey! A lot of people here will give you their opinions, but I thought you'd want some perspective from someone who is ACTUALLY doing it right now. Yes that's right... I'm typing this message on a brand new base model Mac Mini M4, with a 1TB TB4 external drive, and I am booting from that drive. The internal SSD is (for now) completely unused. The experience has been fantastic.
Context: I'm traveling a few hundred miles from home, visiting my boomer parents for the holidays, and their current mac, prior to this gift I just gave them, was a 2013 iMac running on the most recently supported version of MacOS, and I upgraded it to 16GB of RAM and an SSD like five years ago. That machine was working "just fine" but it has gotten slow, it makes some noises from time to time, and obviously we're not getting MacOS updates anymore. My parents don't care about Apple Intelligence or speed for video editing. They use the mac for zoom calls, browsing news sites to get fired up about politics, etc. When Costco offered the base model M4 for $500, I hit up my brothers and asked if they wanted to split it for my parents. I decided I'd pre-open it before gifting, wipe out the internal SSD, and get a fresh install of MacOS on the external SSD. I had an extra 1TB NVME drive sitting around. I got it working a few weeks ago, felt satisifed, stuck the SSD (i'm using the Orico TB4 enclosure) in my backpack, packcaged the Mac up carefully so it looked brand new, and stuck it under the tree.
Initial Config / Migration: I plugged the Mac Mini via ethernet directly into the old iMac ethernet port for the migration, and I was pleasantly surprised by how well it went, actually. I was a bit nervous that I'd get some errors or something, since the 2013 iMac was literally over a decade old, and it was running an older version of MacOS (not sure off the top of my head, but multiple years behind). Instead, it went very smoothly. Transfer rates sustained at around 115MB / second, which is basically maxing out the 1G ethernet port. After the migration, it told me a handful of files couldn't be transferred and got deleted. They were like Adobe flash files and java things so that was great to see those files torched. I booted up the computer, and everything was shockingly great. Then I had to do a MacOS update, and I got
my first error. This was solved by updating MacOS via terminal, and then everything has been smooth. It has only been a couple days of constantly using the machine, but so far I haven't had any problems with things like sleep / wake from sleep. It has all been super smooth.
Usability: Honestly, I can't tell that this thing is running off an external SSD at all. It's a really fast computer. It's nothing like my M4 Max MacBook Pro, but I've been browsing the web with it and doing some basic tasks, I imported a video and made a small change to it, exported it, etc. Like... Everything has been fine. Better than fine. Great. This base model Mac Mini is potentially the best base model Apple has made in SUCH a long time, and for $500, it's such a darn good computer. My parents had a 512GB SSD before, and with all the photos and crap they could probably just delete, it was getting somewhat full. I had an extra 1TB SSD in my house, so I used that, but even if I had to buy one, getting 1TB from Apple kills the value of the computer for my use-case. So yeah... It's been really nice. My dad is loving it, as he went from a 24" iMac screen to a 27" dell screen, and it's just so fast, quiet, etc.
Going Forward: If something weird happens or my dad calls me up one day and tells me the computer stopped working, etc, I'll update this thread. I'm still here for a couple more days before I leave so I'll continue to tinker with it. Also, when I read that the Mac Mini has its own speaker, I thought that was a waste of money. LOL I forgot to buy speakers because the iMac came with them (i need to buy a webcam too), but the Mac Mini speakers are fine for my dad for now so I think I'll just leave it. I'm curious if that one command line software update fixed the error or if that will happen in the future when I upgrade MacOS. So yeah... so far so good!
I don't get the argument that it's easier to have an external drive for files. If I give this to my parents, who are a few hundred miles away from me, that means I'm always risking the fact that they fill up their 256GB drive because a symlink breaks or there's a misconfiguration. Way easier to just boot from a TB4 drive, which is supported by Apple, and know that nothing will get installed on that internal SSD because it's literally not bootable.