I consciously pare down my usage on this MacBook Air, but I am typically at around 7GB/8GB of ram, with 3-4GB of swap space used. It feels noticeably snappier and overall better (minus some odd Big Sur UI bugs every now and then) than my 2017 15in MBP.
Plus I am sitting at ~26gb used memory right now. I tend to give my VM's a nice big 8-12GB chunk of ram depending on what I am doing too, so it is almost like I have two machines in one.
The disks and data pipelines on these new machines are so fast though that I do wonder if the RAM's responsibility has shifted towards being a giant CPU cache and the disk has likewise shifted into a point where it performs more like RAM.
I could certainly also see them going all-in on the integrated architecture, but the possibilities are intriguing if they want a reasonable story for a workstation that goes up to 100s of GB (the current Mac Pro's top configuration is an eye-watering 1.5TB of RAM).
The memory on the M1 actually has fairly poor latency compared to most x86 systems:
https://www.anandtech.com/show/16252/mac-mini-apple-m1-teste...