Well here is my story: On my 2019 MBP I had Big Sur Beta installed. The plan is to trade in that with the new MBP I got. So what I did was used the migration assistant. In the end I noticed that some of the apps such as xcode doesn't install. So I thought the issue might be due to using migration and tranfering data to M1 chip. So I decided to factory reset and erased the drive according to Apple Article. But apperntly the option to reinstall the Big Sur Beta doesn't work. Because it tells you "Installation requires downloading important content. That content cannot be downloaded at this time. Please try again late". Now I removed the beta profile from old mac and was able to reinstall since the reinstallation option is to reinstall Big Sur and not the beta version. Contacted apple and so far they have not been able to figure out a solution.