The M1, even on 8gb of RAM (you can see all the video reviews on YT) does literally everything. Even 8k video editing.
You would have to be animating Pixar movies or just absolutely have to have the 'new chip' to worry about M1 performance. 99.8% of all people are fully covered for 10 years on these things.
No, they won't
In three years, the new macOS will make M1 feel "laggy" and "choppy", if not outright "buggy".
In five years, the new macOS won't support them anymore, youtubers will suggest to just buy a new one anyway because "look how fast they are", and will be relegated to grandma's facebook machines. Also, they will start to fail in numbers, and being so difficult to repair, they will end up in landfills.
In seven years, they won't get security updates any more, websites and apps will stop supporting them, and even the last die-hard owners will secretly crave a new one.
On contrast, the latest and supported Windows happily runs on 12 years old machines with slight upgrades, not to mention Linux.
That's what's going to happen: from now on, Macs will follow smartphones upgrade cycles, not PC's. Especially with first gen products like this.
In the end, if you want a desktop M1 Mac, get a Mini; at least you will have a replaceable, reusable monitor.
And never get a 8 GB machine, period. No matter what. It's a trick to make it last even less.