The primary choice: I might take it to an Apple Retailer, and have them diagnose whether or not there’s a {hardware} drawback, which they need to be capable to do at an in-person appointment, when you wait. If that is the case, then they’re additionally the folks you speak to about getting a free alternative. (Or the store the place to procure it, if totally different.)
Alternatively:
What’s the likelihood {that a} clear MacOS set up (I used migration assistant once I received the M1) will repair the problem?
You needn’t reinstall the OS: you simply Erase All Content material and Settings, in System Settings > Common. Then, see if the machine works with out panics. Then migrate your information, and SELECTIVELY re-install your apps.
Duff Macs straight from the manufacturing facility do occur, however the odds are very low; and the percentages of you migrating one thing out of your outdated Mac that does not play properly are a lot increased.
One other factor you could possibly do is obtain EtreCheck, which is an app that produces a helpful report of the ‘state’ of your Mac, which is beneficial in trouble-shooting issues (notably remotely).
Paste the report in your query, and somebody right here might be able to discover one thing which may ring alarm bells. (The report is completely nameless knowledge, and it is a well-known and revered app.)