Are you asking why is having only 1 NAND chip a big deal? It's not about space. It's about speed. I've already linked a video explaining this. Here's another:Why is this a big deal? you can put your home folder on an external drive, use the built in SSD only for the OS.
If this was a big deal, apple would not still offer 256 as the base option, they know they will sell many at that price, even though, I have to admit, it seems chintzy to not start at 512 bare minimum, and I don't understand why 1TB is not the base minimum, does it really cost that much?
You may find this surprising but Apple can be a real a$$hole when it comes to pricing. The whole point of giving you a poor SSD in the base M2 model is to force you to pay more for the 512GB model. Which is why I said to either buy a base M1 which has 2 NAND chips and thus a better SSD than the M2 base or buy an M2 with 512GB or more. All of this assumes the M2 base will only contain 1 chip but we don't know that yet.
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