Totally--was not diminishing <strike>A14Z</strike>M1 at all--just to moderate expectations from the quite astonishing video editing capability to "measly" ~2x. Even two year old iPad Pro A12X kicks ass on Clang benchmarks (see Geekbench), although I am not sure how sustained the performance is in that thermal envelope.
Of course, we'll need to wait for third party verification in the end.