I don't think you really get it. Twice the performance at half the price is a game changer. Apple has finally done something more than con its fan base and live by investing its huge pile of cash.
From a technical perspective, it doesn't require apps to be rewritten to be M1 native, but more like re-compiled, the inevitable issues fixed, and re-packaged.
In the interim, the emulation software is pretty sophisticated and performs well. Emulation technology has become pretty sophisticated with the common use of things like virtual machines and programming languages such as Java.