Nobody claimed it was going to be equivalent to a MacBook Pro or even a MacBook Air. A code leak details the budget MacBook having an A18 Pro chip, limits on charging, no True Tone, and more.

Apple’s new MacBook in an explosion of colorways

Apple’s new MacBook in an explosion of colorways
Apple is preparing a new low-cost MacBook model for launch, switching out Apple Silicon’s M-series chips for an A-series from the iPhone. While the rumor mill has settled on some core specifications, other measures will help bring the cost of production down for the company.
In a technical analysis of an internal test build of macOS shared with AppleInsider, there will be quite a few smaller changes in the smaller MacBook compared to the MacBook Air and MacBook Pro.