I haven’t tried Logic on my Air, but it has been far better than I expected a fanless computer would ever be, so I expect it would indeed work. A quick web search gave this quote that indicates a mini would easily surpass that by so much that even the lack of fan shouldn’t reduce the track count that much.
“In a new video published by YouTube channel PresentDayProduction, we can see an M1 Mac mini handle over 1000 plugins, 128 samples, and 195 channels in Logic Pro, all till it eventually runs out of resources.”
Of course, the MacBook Pro would do even more, as it should, but the Air is pretty amazing as a fanless notebook. Time is money, so a lot of people will be able to justify the MB Pro, but, that said, there are a lot of things you can do with an Air that you would have had trouble doing with a Pro a few years ago. As a computer user for 40 years this stuff is like science fiction compared to when I started.