1. Apple has been doing this for years and years. At this point, it shouldn't be a surprise.
2. It reduces legacy cruft. The alternative is you get to keep 20-30 year old legacy cruft, as with Windows. I'm not saying what Microsoft does is necessarily bad, just different.
3. The Intel laptops don't stop running[a] -- and if history is any indication, will still receive critical security patches.
4. At least the bonus here is that the lowest end Apple Silicon Mac almost entirely crushes the high end i9 MBP 16" it replaced -- for a fraction of the cost.
a. Unless it gets hit by one of a number of known quality issues (screen, keyboard, battery, etc).