That's great, but it tops out at 10 CPU cores, according to the website -- but that's 8 "performance cores" and 2 "efficiency cores". And I don't think it has hyperthreading? So being efficient is great, but if you're in a place where you can just plug it in and afford the extra power, 16C32T will give you faster parallelizable builds than the M1 chip.
EDIT: Since someone said benchmarks below, MacPro 3950X has 21890 for the multicore clang and MacBookPro M1 Max has 12335 for multicore clang. M1 is a good chip, but it's not magic.