Even if you are buying at the low end, hardware simply doesn't age that quickly nowadays. Comparing against of the M series chips, I'd be surprised if anyone found an M1 Air unbearably slow in a blind test. In contrast, there was a huge leap in going from say the Pentium 4 to a Core 2 Duo.

I actually find M1 Air class performance still more acceptable for all my usual dev tasks. I might only need a beefier machine for the extra RAM if I'm spinning up a lot of VMs. Otherwise though, the raw CPU performance is still quite fine.