The M1 is more efficient at video encode/decode, would you be OK with them keeping certain codecs from an Intel Mac running FCP because it would have to decode in software and work a little harder? With the solution being to use Premiere?
Yes, primarily because if I have the money to drop of a $50,000 machine and I need better, like “make more money from my work” better, then I’d get better. If better is Premiere, I’d get it. If better is an Apple Silicon Mac, then I’d get one when it’s available. Otherwise, I’d keep using the codecs that have made me money for years.
I'm not pissed for me. I'm pissed for the customer that is currently walking into an Apple Store and being sold a very expensive computer under the promise of 'we have great intel products in the pipeline" "continued support for years to come" that is already being deprecated behind the scenes.
You’re pissed so they don’t have to be?

You can be assured that folks buying a $50,000 system today are doing so because they’ve got an opportunity to make WAY MORE than that back. Or, I guess, they could go to the producer and let them know,
“Hey, I really wanted to seal this deal with you, but right before I bought the computer, I realized I couldn’t spin a globe on it.”
—“What are you talking about? I wasn’t asking you to spin a globe I wanted you to edit this footage…”
“I know, I know, you’ve got this FCP footage you wanted me to edit, but I just couldn’t bring myself to buy a computer that I can’t spin a globe on.”
—“Wait, wait, like Google Earth? You can’t spin a globe on Google Earth so I have to go find someone el…”
“No, there’s this globe that’s going to be in the new OS to be released this fall. It’s an Apple produced globe.”
—“This fall? YOU’LL BE DONE before then! You mean to tell me you’re turning me down because of a thing that you won’t even be able to use during the time you’re doing the work for me?”
“Yeah, you’re going to have to find someone else that doesn’t care about currently nonexistent virtual globes. Sorry.”