huge own-goal on Apple's part. It would be literally impossible for me to use this machine to do my job. I guess I'll have to wait until M2.
Edit: If it wasn't clear, this was not a joke. I develop a relatively heavyweight service on the JVM, and between my IDE, the code I run, and all the gradle build daemon stuff, I regularly use up more than 32GB. Often over 50GB. (Although some swap is tolerable, having the majority of my resident set being swapped at any given time means things get very slow.)