No. That's why it's the higher end MacBook Pro. Look at what you use the computer you have for, and whether or not the features added in the new models would help those tasks get accomplished faster or better or more efficiently. Most likely, if you are asking this question, you probably don't need to upgrade yet.
It depends on what your needs are. The 13" MBP is a great machine and still pretty new. If you're not having performance issues, maybe stick with it until your needs exceed the machine's capabilities.
I have the M1 mini. As my work deals with texts, and communication, but not with graphics and video, the M1 power suffices. Therefore I am impressed by the reports of the new machines but I do not need them and won‘t by them.