Yeah, sorta wrong. Sure, computers are already really fast, but the big thing with the M1 Macs for me is that they've finally came out with a laptop that doesn't heat up like crazy when I'm using it for moderately demanding tasks.
Also every laptop I've had prior, would get pretty hot or the fan would get quite loud when connected to an external display. This M1 is completely silent when doing that AND it doesn't throttle.