I looked into this for the M1 MBA and it had the exact same performance at full load as the MBP...for 7 minutes. Then the thermal throttling hits and it slows down. I'm not sure what the time limit is for newer models. Regardless, the MBA's aren't offered with Pro/Ultra chips, which I desire (and would thermally throttle much sooner than 7 minutes).

My recommendation to friends asking about MBP / MBA is entirely based on whether they do anything that will load the CPU for more than 7 minutes. For me, I need the fans. I even use Macs Fan Control[0], a 3rd party utility, to control the fans for some of my workflows - pegging the fans to 100% to pre-cool the CPU between loads can help a lot.

0: https://crystalidea.com/macs-fan-control

I’ve been amazed that while it absolutely uses a ton of battery, so has to be plugged in, my kid is able to play 3D online games with me using my old M1 MacBook Air. Not top of the line stuff (and had to change the resolution to 1440x900), but still. It gets hot, but doesn’t thermal throttle. I had half expected it to start throttling but we played for 3 hours last night with no issues.

What’s surprising is it DOES throttle using Discord with video after an hour or so, unless the battery is already full (I’m guessing it tries to charge which generates a lot of heat). You get way less thermals with a full battery and it using power instead of discharging/charging the battery during heavy usage.

what are you doing where you find the thermal limits noticeable?

Fortunately, short CPU bursts are most of what most people do. Race to idle!