Hi,
No surprise there if one looks at CPU benchmarks (https://www.cpubenchmark.net/high_end_cpus.html) one can compare these CPU’s. Each M1 core is faster than each i7-6700K core and you have twice as many (real cores)! So yes it will run faster. Will get faster I imagine once the M1 Blender builds get better optimized over time. If you care about wattage the M1 can’t be beat.
Looks like you may need to bump up your virtual memory on your PC (assuming Windows) which should help your GPU use of virtual ram also. For more info see: Blender Randomly closing - #2 by pxlpaul
Cheers and stay safe!