Yes, this is very frustrating. However not all users are having this issue, maybe some do not rely on tap to click while others are not having it altogether. This makes matters more confusing.Oh I'm so glad I'm not crazy!
2018 15" i9 MBP, running a completely clean install of 12.0.1.
I've used tap-to-click virtually exclusively since its introduction (it's gotta be way over 15 years ago). It's engrained in my interaction with the Mac at such a low level that its almost startling when it misses a tap. Especially on items that normally delay with no feedback (some financial "submit" buttons for example). I'm constantly checking the URL bar in Safari to see whether a new page is trying to load.
This issue really slows down user interaction everywhere in the system. I've tried and tried to find some combination of window switching, button tapping, double-taping, etc. to reproduce the issue to no avail. I was even wondering if it's hardware, but I distinctly noticed this upon updating to Monterey. Since the initial upgrade, I've since done a complete wipe, clean install, and Time Machine migration. It is possible something in my user could be responsible; I just haven't spent enough time on a separate Monterey boot drive (new user; no migration).
Based on what I've read in this thread, it sounds like people are still seeing the missing TTC even on fresh installs (and upgrades to 12.1).
I will add my own Feedback Report regarding the missing tap-to-clicks. Unbelievable regression bug! Breaking core, [what should be] low-level stuff, is sad. At least I now know it is common enough to fill a few pages here at MR, and not a hardware problem (me being just past the end of my APP for my 2018 15" Core-i9).
On a side note, I had previously updated to 12.1, but it killed FaceTime, which I depend on (any attempt answering or calling resulted in coreaudio getting stuck at 100% CPU and the call failing. Before that, I did use FaceTime a few times but noted there is no GUI whatsoever for a cell call – no keypad, no nothing. Only way to hangup is quitting FaceTime. A FaceTime call does get a green thing in the Menu Bar, but it has no active feedback for ongoing audio. After trying to fix FaceTime (reinstalls, log out/in, etc.), I gave up and went back to 12.0.1 clean + migrate. I still need to write feedback on this one.
As others have done, I downgraded to Big Sur and have no issues. With this experience I believe I won't be back to Monterey anytime soon. Although I read reports of better performance on Monterey in Intel machines, in reality it may be more related to updated firmware (my 2015 MacBook Pro got a firmware update with Monterey, go figure!) than the OS itself.
It's really a pity since the new machines seem very promising and are tied to the new OS. Well, every year is the same thing new machines are launched with half baked software, it will get better with time. Honestly paying 3000 quid for a machine that can have serious input device glitches I would not be an happy camper by all means.
Gonna keep an eye on this tread. Thanks all for sharing your experiences! Kudos!