I first checked for Mac Minis and interestingly they are much closer to $650 for similar specs.
And obviously if Intel is fine for your use case, either the N100 type of mini PC or, my preference, an off-lease HP, Dell, or Lenovo USFF PC, would be like half that for a very capable machine.
[1] https://www.ebay.com/sch/i.html?_nkw=m1%20macbook%20air%2016...