With full control over the hardware and not relying on Intel for the processor, Apple is aiming to reproduce its iPhone success in PCs. They have everything going for them.
The future looks bleak for Intel and AMD. They are stuck evolving a 30 year-old architecture.
In fact, this is where Apple shines in terms of long-term strategy and execution. They are able to create a revolution with a new product/architecture (iPod, iPhone, iPad and now PC), then iterate to make it evolve over time. In doing so, they create new markets. I really feel like the M1 is an inflection point in the personal computers market.
Can't wait to see how Qualcomm and Nvidia (with the acquisition of ARM), will respond.