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How is it charging as fast as a charger 3 times more powerful?

I think only the M2 air (and M1 pro, depending on size) can use fast > 30W charge; it varies by model.

No, even the M1 air can charge at 45w, which is a good bit faster than the 30w adapter they ship with it.

Only for a relatively small portion of the batteries charging curve. The real advantage is when charging while turned on.