The most important feature of an M1-based Mac will likely be OS support into the distant future. I'm still using a 2012 rMBP, which was the first-gen retina version, and it's held up much better than any other computer I've ever bought, partly due to OS support into 2020. I imagine Apple will stand behind this new generation for a long time as well.
The new M1 SOCs max out at 16GB RAM, which seems like a major limitation, but the timing and latency of this integrated RAM is probably much better than what you could otherwise achieve. Meanwhile, improved SSD performance will probably have a larger impact on the whole system. I remember when I bought a 15k RPM hard drive ca. 2005 - it was like a new computer. Upgrading the slowest part of the storage hierarchy made the largest difference.
One slight disappointment in the Mac mini is the removal of two USB C / Thunderbolt ports and no option for 10G ethernet vs. the Intel model. An odd set of limitations in 2020.
Overall, at the price they're offering the Mac mini (haven't really considered the other models for myself), I think it's ok to take the plunge.
- Sent from my Dell hackintosh