I do web & general java work on it and it's plenty fast even using a memory hog like IntelliJ (which is typically disk bound anyway). Claude tells me that a new macbook would feel about 1.8x faster in my CPU-bound cases, which is not common.
If memory prices returned to normal and if local inference gets over the hump, I could see upgrading for local AI agents, but I'm fine waiting for a good long while on that.
I say all this as someone who, five years ago, was a perpetual upgrader: immediately bought new product and got excited for next product. Wonder if the future will see the end of that culture in tech and, looking back, it was a little silly and wasteful anyway.
I'm also using an iPhone mini 12 and it's fine.