Apple recently announced and released something new to the MacBook product line: the MacBook Neo
It sports a few nice color choices (today it's silver, pink, yellow, and a dark blue/indigo) and is placed as a budget-friendly MacBook option, similar to a base iPad, the iPhone SE, or the newer "e"-model iPhones.
The current price point is $599 for the base model, or $699 for double storage and a TouchID button. This is quite a bit cheaper than the next-lowest MacBook, which comes in at around $1,000 MSRP today. If you're able to snag an education discount, the Neo is even cheaper at $499 starting price.
There are, of course, Chromebooks and cheap Windows laptops that have roughly similar specs for cheaper, but they fall short of the Neo in terms of build quality or performance consistency. These have 8GB of RAM (par for the course, unupgradeable), a minimum of 256GB of decent-speed SSD space, and Apple's A18 Pro chip, which has come up in benchmarks as being roughly equivalent to an M1 with slightly stronger single-core performance.
I strongly suspect the Neo will cannibalize the majority of already-relatively-meager college Chromebook sales, and possibly encroach on grade schools, especially on the upper end. I also think this thing will prove to be popular as a second device for people who already have a beefier but less portable device (such as a gaming desktop), partially filling the niche that the base iPad lineup is offering today.
If I didn't already have a M1 Pro MacBook, the Neo would be high on my consideration list for the stuff I do on my laptop (primarily writing, light programming usually with the computationally expensive stuff happening on a different device).
Certainly, there are areas where the Neo is not a good purchase: