Technically, yes. If you look at the benchmarks, a VM of Windows on an M1 (base model) is significantly faster than both the SQ1 / 8cx Gen 1 and SQ2 / 8cx Gen 2 processors Microsoft included with the Surface Pro X (by like, 30%, it's not even close), though how it compares to 8cx Gen 3 / SQ3 is unknown. However, considering we're on M2 by now, and that we now have M1 Pro and M1 Ultra models as well... egh...
