Yup, that's the texture compile, which is usually just a one time thing unless you make massive changes to the scene, or fire up a new version of Blender. That's considerably faster than my machine, which usually takes well over a minute to do a recompile.
That's a bit disappointing there, since I usually average about 3.5-4.5 FPS in the viewport. Then again, I'm also running the screen at 1440p, so some performance will be lost due to the MBP's higher res screen. We'll call that one a wash.
That's a bit slower as well. It usually takes me 90 seconds to render out that scene.
Though all this is basically just what I should expect if I get an MBP in the next couple of months. Blender isn't yet optimized for the M1, with Metal based GPU rendering in Cycles being a version away, and the entire Metal backend not expected until the 3rd quarter next year.
Thanks.