For now: And for the cases where it isn't, Intel wants you go for an dedicated graphics cards. (There is a cost to stuffing more onto the same CPU package, chiplets do reduce that cost by quite a bit, but are a new technology you have to integrate into your design flow, tooling etc.)
In the future: Similar, but due to some shifts in their approach Intel might reach for chiplets. Similar there are dedicated Intel Graphics cards they want to sell to you.
My M1 Air absolutely DESTROYS my RTX 3090 in h265/422 video editing, which is what my camera (Sony A7S iii) shoots.
My 3090 would shutter and play my 60fps footage at 11fps using 350W while my passively cooled M1 doesn't miss a frame.
it obviously doesn't matter for your workload, ultimately the M1 is faster and that's all that matters for you. just highlighting that this isn't magic, just hardware matched to use case.
But then they don't change that often.
Your probably change your apple laptop more often.
And given that codecs are pretty much the only "high performance" use-case apples target audience has to a high degree putting special hardware in to make it go fast is the right way to go.
But as we all know what Apple is/was shipping and the best you can get in a PC laptop are very different things.
But, it had stagnated since the 4th gen. Intels 10th gen graphics were meant to go out with their first 10 nanometer chips, but that took them an extra few years.
All that said, yeah, I'd love to see even better integrated graphics. As others have mentioned, the RAM is a significant limitation.
Obviously the 3080 smashes the Apple GPU but that comes at a huge power cost.