There's no question the M1 CPU is far more power efficient than anything from Intel or AMD at this point, and the GPUs are competitive with AMD or nVidia GPUs. If you can live with the other downsides of the Apple hardware and software, they are an option.
If you don't like buying a completely non-upgradeable appliance, with a soldered-in SSD, RAM -- essentially everything, a glued-in battery -- or you need to run Windows natively, or your gaming demands AMD or nVidia GPUs -- then the Apple offerings become far less compelling. You also have to be willing to foot the Apple tax (the hardware costs 100% or more, more than the equivalent performance from Intel/AMD/Windows).
It's all a matter of deciding what matters to you and what doesn't; for some, Apple hardware makes sense. For others, it does not.