I sold my top of the line 16” MBP and replaced it while making a “profit” with a $900 M1 mini, since I am working solely from home. The mini is faster in almost all tasks.
I did quite a bit of benchmarking. I mostly compile code, which parallelizes well. For that workload, the higher core count on the 16" means it's (a bit) faster. For single-core work, the M1 wins.