M1 Mac Still Viable?

I am a current college Freshman majoring in Exercise Science. I am currently using a 2020 MacbookAir with an M1 chip that was used for probably about 6-8 hours a day for the last 4 years of highschool and has seen pretty extensive use this first semester of college. It's battery is beginning its decline so I was wondering what people's recommendations would be as to:

- update and if so to M3 or M4

- will it keep kicking a little longer and is it worth keeping kicking