Apple announcement summarized: Hey, you can now use the M1 to run the same wimpy iOS apps that you were running with the A13 before, but now you can do it faster. Nevermind that we could have let you do that with Mac OS and full desktop class applications since the two architectures are the same, but nevermind that. No file system and self contained island apps are just way more fun.
It is almost like Apple is afraid to truly innovate.