The biggest difference between this model and the M1 is that ...

All* software now has native Apple Silicon builds.

* Except abandonware**, of course, but Rosetta is so good you need not notice. That said, I personally recommend never triggering Rosetta which helps you avoid accidentally running legacy drivers etc.

** For some reason, including Steam's installer, even though the games it wraps are universal/native ARM.

The jump from Intel to M* is huge.

Whether that's worth it for you - hard to say.

You can get a good deal on a refurbished or used M* MBP and try it out. My 2021 M1 Max MBP is still going strong; so strong I just can't justify a new one.

Biggest thing to note is how many external displays you want to drive. I got the M1 Max to drive my 2-4.

Absolutely. I had a 2017 machine and any Apple Silicon machine will run circles around what you already have.

night and day @ noise and battery life