Yep, reducing energy consumption and boosting performance per watt seems to be one of Apple’s main focuses, and for most people buying phones, tablets, and laptops that’s probably the correct choice — while raw perf is nice computers have been “fast enough” for a long time.
People who only browse the web need barely more than a Core 2 Duo, even now, and most devs and media professionals will find an M1 Pro to fill their needs somewhere between reasonably and very well. You know what almost nobody will turn down though? Laptops that are cool to the touch and rarely need to spin up fans and all manner of battery powered device that lasts longer, even doing “real” work.
Of course there will always be those who need the fastest big iron they can find and don’t care if they have to feed it 2000W and cool it a 15lb heatsink with ear piercing fans, but this group is comparatively niche.