This is an unwinnable game. The moment you purchase something a newer, better version will be announced.

The new MBA likely won't be announced until WWDC and come out shortly thereafter. It will also likely have design language that reflects the new iMac. Let that temper your decision making.

Just keep it and trade it[1] in this Summer when the new models ship.

1. You'll get much less from Apple, but its still decent and better than dealing with randoms on Craigslist and eBay.

I did this with my 16" Intel MBP that I purchased about 4-5 months before the Apple Silicon MBP 13" was announced. I don't regret it a bit.

Keep it. It's not like it's crap. If they really do release a must-have feature on the next one, the upgrade cost isn't that bad (especially on an inexpensive computer like an MBA). In the meantime enjoy the M1.

Hah, I did this with a 16" MBP when rumours came out that they were building ARM CPUs. Now writing this on the MBA 13" M1.

Return it if you payed more than current stock x price.

You can always resell it later. Just don't get apple care and any additional accessories.