It seems that M4 was overhyped. Almost of all of the performance improvements, in Geekbench for example, comes from new instructions that most apps won't use, and even if they do they might end up using the faster GPU/NPU for those tasks. https://twitter.com/toniievych/status/1788596920627118248
It was a super great idea because it allowed recompilation on the App Store to take advantage of new instructions.