> You can't run unsigned ARM binaries on M1 Macs
They need to be ad-hoc codesigned; ie, codesigned with a certificate you made up on the fly, unapproved by any one. This is an implementation detail and nothing more; Apple likely did it to simplify how binaries are loaded.
Running un-Notarized apps is extremely trivial if you know how to use the Terminal. IMO, anything you can easily turn off if you want to is "not locked down".