Furthermore, now that the memory is unified, the 16 GB RAM isn't as much of an issue as the laptop is far more memory efficient now that the chip is made by Apple. It also gets significantly better battery life, which will be useful when you are on the go, and the price is significantly cheaper than the 16' Intel MacBook Pro. Furthermore, on top of that, the M1 makes it so that the MacBook Pro rarely ever needs to use the fan as it doesn't heat up your computer too much, making it an incredibly quiet laptop to use and making it easy to use on your lap without getting too hot. While the Intel i9 from the 16' MBP is a fantastic chip without a doubt, the M1 performs nearly 70% faster than it in single core performance and even beats it a little bit in multi-core performance.
That said, I do agree that if you have to buy a device today, and the smaller screen or lack of four ports isn't too much of an issue that the 13' M1 MBP is the way to go.
Hi there! First off, both the 16' i9 MBPs and the 13' M1 MBPs are incredible devices, so I have no doubt you would like whichever one you choose.