It's very tempting, but my MacBook Air M1 has been great and performance wise any improvement is probably barely noticeable in the day to day that I'd end up feeling like I just bought a new chassis. Which could still be nice.. although most of the time it's in clamshell attached to my monitor. I'll have to sleep on this!
For M1 owners, just wait for M3. It should be on TSMC 3nm which will be the next true node shrinkage.
I have a 16" with the Max chip, and yet . . .