I've had no problems running all of my applications, including Adobe Creative Cloud Photography subscription items (not yet Apple Silicon native outside of Lightroom CC which I use far less than Lightroom classic). Also do 4K video editing with 10-bit 400Mbps All-I clips from my Panasonic GH5 with a large number of titles, effects and color grading. All from an 8GB MacBook Air. I do however have the next step up (8GB, 8core/8gpu M1, 512GB SSD). I do use external Thunderbolt 3 NVMe storage when doing the extensive edits.
Sometimes my renders are not as fast as 16GB M1 MacBook Air have shown in YouTube, but I still achieve the results without error. Watching activity monitor will show "yellow" memory pressure, but I'm really pushing this system beyond a daily driver that most customers and creatives will use. However, you can return the M1 MacBook Air within the return time frame and purchase the 16GB version instead if that's a concern.
Oh, yeah, while a former PC head, I'd recommend staying clear of Chrome, even the native version that recently came out. While it's anecdotal evidence and argued by many, myself and others found significant impact from the keystone updater software bundled with Chrome. I had stuttering occurring in DaVinci Resolve Studio that was eliminated when I used "CleanMyMac" to remove Chrome and all it's hidden bits.. Simply dragging to the trash is insufficient to resolve the Keystone issue.
As for anti-virus. It is to an extent built into Big Sur, but I understand that peace of mind is ensured when you have the AV software. Be very careful, many of the AV virus makers recommend waiting for their M1 Apple Silicon releases of their product for proper operation. The problem is that the "intel" based versions that are currently released will "run" with the Rosetta 2 translation on the M1 well enough to make it appear you are good to go. Actually as it's not accessing the processor and system resources in the correct manner, it's slowing your system down without actually providing the level of protection that application would provide on an Intel based Mac. My own virus vendor that I have a subscription for has yet to release their Apple Silicon (or universal) application and mention this in their support FAQ, which sadly customers may not view before installing their "intel" AV.