It's not crap, though. I am using the exact config with an M1 and it's really quite usable, even for development. Also I have hundreds of tabs open. You can even watch movies because the speakers are so good - opposed to any PC laptop I ever owned.
It might be usable but the cost difference of 8/256 and 16/512 is negligible. But Apple wants to price gouge you if you want the latter. Computing hardware was always about providing the maximum upfront to give headroom in the future.
