I have an M1 MacBook Air and do a once weekly virtual D&D session with some friends. I hook it up to my 4K monitor, and I assumed it had to do with that. It kept becoming a slideshow (unless I put an ice pack under it!) and I realized it’s because the battery life is so good it’s the only time of the week I charge the thing, so charging the battery was making the poor laptop a hot mess that was thermal throttling like crazy. This is with a nice dock that can push around 100W, so it isn’t necessarily an underprovisioned charger.

I started charging it an hour or two before our session, and the issues stopped.