This is all absolutely correct, but it wasn’t until this year that we’ve even been able to get a computer with an M1 chip. Absolute breaking bugs have been fixed in Local already.
We’re looking at the best way to go about doing this. It’s not something that can happen overnight, but we agree with you that performance is important which is why it’s being prioritized over other things.
I don’t think it will be years before this is resolved. Months maybe. But again, Local has many build targets and many users. Solving the problem of managing WordPress sites locally (and solve it for everyone!) is a challenge, but it’s one that we’re happy to do!