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Probably not the answer you were expecting, but you may want to consider getting an Xbox Series S (that is often on sale at $250 or even $200), plugin your mouse and keyboard and you'll have a great experience. Yes that is a "dedicated game rig" but much more affordable than a usable gaming PC. Of course, only if you also play other games on that xbox and can live with no disc. This is what I would do in your situation.

This is what I found for the M1 https://old.reddit.com/r/macgaming/comments/ms8081/age_of_em...

Seems to work fine with Wine and Crossover.

I use a small machine at Paperspace (P4000 with 100GB) and play it remotely with Parsec. The experience is very good and costs me about 10-15$ a month.

How is it that a modern laptop manages to be worse at gaming than the average PC 20 years ago? Surely you one can at least run it in an emulator of some kind?

You can just run with Wine, it seems to work mostly fine.

Also you could probably just install ARM Windows in a VM, not sure how good is the Windows translation thing compared to Rosetta though you might end up with a worse experience than just by using Wine.