Its surprisingly good and I think this is partially because of Apple’s network effects

But aside from that the rosetta translations work really well, allowing a lot of x86/x64 to work

And then there is Crossover which is a GUI for WINE

And then VMs

I got a Windows 95 game playing on my M1 yesterday with Crossover, more resource intensive stuff seems to be doing well too, with maybe flagship games failing some enthusiast benchmark