A lot of development isn't CPU bound but is memory bound or at least can really benefit from more memory. This upgrade makes the MBA an entirely viable dev machine for many workloads.
I have a MBP (Intel) but it's expensive. Getting a viable machine for $1200 would be great. You feel less bad about losing it or breaking it or upgrading it more often.
Really happy to see this.
As an aside, having 8GB of unified memory even as an option in 2022 is a joke. It should just be 16Gb minimum.