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The Emacs startup failure may be due to bad preferences left behind by Emacs in ~/.emacs.d; try moving those aside or deleting them.

Don't think so. It's telling me there's an issue with the binary's signature. (I'm using a macbook air M1, so maybe it works fine with x86)

In any case I guess it'll get fixed eventually.

For whatever it's worth, you can launch Emacs from the command line.

cd /Applications/Emacs.app/Contents/MacOS

./Emacs-arm64-11_2