Everyone keeps citing idle, which is when the device is on and active but not particularly doing anything.
The standby power draw is 1W or less. I've used Mac Minis for years -- just replaced my M1 with an M4, though the M1 left me wanting for nothing -- and the number of times I've interacted with the power button is so negligible I imagine I've gone over a year without touching it. When I haven't touched it in a while it goes to standby, waking instantly when I engage it again.
The standby power draw is 1W or less. I've used Mac Minis for years -- just replaced my M1 with an M4, though the M1 left me wanting for nothing -- and the number of times I've interacted with the power button is so negligible I imagine I've gone over a year without touching it. When I haven't touched it in a while it goes to standby, waking instantly when I engage it again.