Apple's M-series architecture is really amazing and runs circles around most everything else out there, but there are currently some real limitations. For the vast majority of desktop PC use cases, Apple Silicon is not only adequate, but superior.
However, with the current Mac architecture, there are things that Macs are no longer able to do. The first obvious one is the inability to run x86 operating systems. We have several Macs at the office, but they are not running MacOS. That era is now over, and unfortunately when it comes time to replace them, we're going to have to buy Intel PCs from Dell or HP.
Another limitation of the new Mac architecture is the inability to work with very large programmatic or analytical data sets. 192GB of RAM sounds like a lot, and it is for typical desktop PC applications, including Audio & Video, but it is wholly inadequate for massive data models. Again, at the office we have "workstation" PCs (or servers, i.e. HP Z or DL series) with Intel Xeon processors and between 768GB and 1TB of RAM installed, and our engineers use every drop of that available memory.
There are many other limitations, but the last one I'll mention is the lack of support for GPU cards. I understand why, but I'm hoping Apple will be able to architect a way to extend off-die GPU processing into the M-series silicon. GPU cards don't exist solely to drive monitors. Again, at the office, engineers are working with large data sets that process much faster on GPUs. NVidia still holds the crown when it comes to GPU processing (yes, with high power consumption) and sometimes you just need raw horsepower to accomplish what you need to do.
We have machines with between 4 to 8 high end GPUs and over 1TB of RAM in order to run complex simulations, develop machine learning tools, and now AI type work. That is no longer possible on the Mac platform. The previous Mac Pro was the only machine Apple had which could allow this type of work, but now Apple won't have a presence in this space - not that they had much of a presence before, but at least previously it was technically possible. No more.