It is mostly valid for 16GB/256GB-SSD config and when you need performance in bursts. Consider sustained performance, more RAM, more storage, OS options etc and the value proposition changes.
I have maintained it for years that the base model M-series Air is the best computer for normal people if they plan to keep it for years.
I have maintained it for years that the base model M-series Air is the best computer for normal people if they plan to keep it for years.