I have absolutely no doubt that this person is having bad memory leaks (though their narrative about SoC memory or other elements seem unlikely to play any part whatsoever). Software has faults, and something in their environment or stack is causing problems. I have an M1 Mac and used every beta of Monterey, and now the release, and have had zero problems. Like nothing at all. I use XCode, IntelliJ, Chrome, Safari, Excel, Logic Pro among others all day long, heavily. Loads of other people seem to be having no problem with their systems. Eh.
If something has literally millions of users, saying "{X} happens" will invariably draw out someone with a similar anecdote, but that doesn't mean it happens to everyone, or even a significant minority. Some unique combination of factors is yielding a poor user experience, and hopefully there is a resolution, but it just doesn't seem likely that it's widespread.