GPU: $150 (1650 super)
Storage: $60 (samsung 970 evo 250gb)
PSU: $90 (silverstone sfx 500w 80 plus gold - there's probably cheaper options but most PSUs seem sold out on amazon)
RAM: $70 (16gb 3200mhz CL16, gskill or team group)
Case: $70 (Silverstone tek)
Motherboard: $120 (asrock b550-m itx)
There's your $1000 mac killer. I wouldn't call it a sensible build, but it should outperform the mac across the board. Notably the GPU is significantly better but the closest gpu the m1 is to trading blows with is the Radeon 560 which is only $30 cheaper. Also the mac comes with 8gb ram in the base model, and 16gb is a $200 upgrade but I could not find a decent speed 2x4gb ddr4 kit as nobody wants that little ram anymore in a custom build. I could save $40 by going with a 1x8gb kit for $30, but single channel will hurt performance.
I'd also consider $30 to go from the 250gb ssd to a 1tb variant, something apple charges $400 for.
The reason I wouldn't call it sensible is that the 1650 super is a budget gaming card while the 5800x a higher tier cpu. If you were actually planning to build this for gaming I'd suggest dropping down to the 5600x and putting the extra $100. actually for gaming I'd even suggest squeezing the budget for a 2060 (or even better wait for the standard 3060) by dropping to basic ddr4-2133, and going for standard sized case/psu rather than the small form factor to chase the mac.
On the other hand, if you're not gaming and just need a video output, save like 120 bucks and just get a gt 1030. Use that to buy some nicer RAM or more cores via a 5900x depending on what suits your workload better. Sadly you have to get _a gpu_ as Intel is falling behind and AMD won't give us high end APUs in the individual market.
It also isn't a portable, fanless laptop which has its perks.
On top of that, Apple charges $300 (in Sweden) for every 8GB of RAM, and $300 for every 500GB of SSD storage you add. The costs quickly even out. Unless you buy the absolute cheapest Mac Mini version, a self-built PC will be cheaper, at least according to the PCs I've built.
Let us not pretend that you don't need to also buy a keyboard, monitor, speakers, and mouse for the Macbook Air to be in anyway usable.
Don't forget to include your windows license ;-)