And M1 from 4 years ago instead of M3 from last year; while a 2x speed improvement in the benchmarks they listed is good, it also shows that the M series CPUs see incremental improvements, not exponential or revolutionary. I get the feeling - but a CPU expert can correct me / say more - that their base design is mostly unchanged since M1, but the manufacturing process has improved (leading to less power consumption/heat), the amount of cores has increased, and they added specialized hardware for AI-related workloads.

That said, they are in a very comfortable position right now, with neither Intel, AMD, or another competitor able to produce anything close to the bang-for-watt that Apple is managing. Little pressure from behind them to push for more performance.