Will the new M1 Macs get the Ultra profile?

I think you’re underestimating the amount of work involved in this, especially considering the game performs pretty well via emulation.

What about just changing the decision as to what the graphics capabilities are? Seems like the big GPU in the new models should be able to handle it?

The M1 Mac worked well at HIGH last year. This year, I am somewhat tempted to get a dedicated desktop and not worry about the Mac being dragged around. I just don’t want to spend $1K+ on a desktop that will have no other use, so maybe an eBay setup…

You don’t need to spend anything like $1k to get better results than an M1 Mac in Zwift, especially if you’re willing to source a few used parts and put them together. If you’re interested, search Facebook for ZPCMR.