It is indeed about trade-offs, you're right.
I've been running Macs (alongside Windows/Linux) since the first Intel ones many years ago, and have owned the M1 Mac too. They are great machines, but the general (often automatically accepted) assumption that Macs are better hardware is a little annoying (and I do mean general; this is not aimed at your comment).
* The ThinkPad does have a worse trackpad and battery. However the battery is replaceable, which compensates quite nicely.
* It doesn't have a worse webcam at all; it's a fairly common complaint that the Mac has a very basic webcam.
* Macs are durable, more so than almost all Windows laptops. Many ThinkPads do better in that regard, though - usually the chunky ones that I go for, so I accept there is a trade-off there as to get equivalent durability I sacrifice on the form factor.
* The trackpad is indeed worse (it is good enough, but still a trade-off).
* The screen isn't worse (assuming you choose a decent ThinkPad). It is dimmer, but conversely unlike the Mac I can use my matte ThinkPad display in direct sunlight.
* Windows (for me) is far more conducive to keyboard jockeys than Mac OS, and is far more accomodating for accessibility.
All of which means that personally I saw the M1 Mac as the compromise, in that I sacrificed the better keyboard, screen, expandability, webcam, durability, backwards compatibility, and accessibility, all to get a longer battery life. Not a price worth paying.