Apple is essentially selling the modern version of the eMac, and I would say the Neo is almost as bad of a purchase as that product. The real selling point of the device is that it's newly in box with a warranty. If you actually go to the used market, it's easy to find a gently used machine that is much better. Any MacBook Air with an M2 and 16GB of RAM is a better purchase.
The Neo situation is the equivalent of buying a brand new $500 Acer machine versus buying a $500 eBay ThinkPad T14 or something like that. You'll get a much better laptop by buying a used laptop versus buying that brand new Acer.
The same story goes for the MacBook Neo. It'll be successful in sales, and it's a nice machine in a lot of ways, but it's one of the most overhyped devices of our present times.
It will go down in history as a device like the iPhone 5C. Save a few bucks now, but pay for it in the near future with the kind of performance you're actually getting from it. Even basic casual tasks will chug in the very near future.
Apple is selling a device that is approximately equivalent to the $1000 laptop they were selling 5 years ago and we are acting like this is a revolutionary product. And, by the way, it's not a $500 product unless you can use the education store. It's actually $600, or $700 if you are buying a configuration that actually makes some level of sense and has enough storage. $700 will buy you a 16GB/512GB MacBook Air M2, a much better machine (better screen, battery, speakers, processor, keyboard, trackpad, I/O, etc).