I have had a Mac Mini M1 16/512 11.5.2 since Dec 20. I went thru all the initial bluetooth issues which were corrected months later with software updates. I find the Wifi to be very good, fast enough and consistent. I have not tested my wifi throughput so it may be going up and down but the feeling is that all is good at all times. In March 21 I added a Netgear Orbi Wifi 6 mesh router with an additional Orbi satellite to replace my 5 yo Fritzbox 7390 wifi routers which were flaky at times and slower (my family constantly nagging me about poor performance) so my wifi at home has improved overall for everyone in the house. My Mac Mini connects to the Netgear wifi network using the fastest Wifi 6 802.11ax protocol.
Now that they have just about sorted out bluetooth connectivity to a high level of usability I now find the bluetooth range to be quite short, I can not move the mouse or keyboard too far away (over 3ft/1M) without experiencing partial or full dropout. I can't lean back in my chair with the keyboard in my lap and expect it to work.
I have experienced some random reboots whilst I was using it, maybe 3 times in the last 2 months. Occasionally when I bring the Mac out of sleep by touching the mouse or kb my Samsung 4K monitor might display an entire screen of bluish & white pixels for 3-4 seconds before displaying the login screen but it is no real problem, just alarming, does not happen often.
Overall, I am still really happy with this Mac Mini, it handles whatever I throw at it including multiple browsers with 30-40 tabs open, 4K security camera feeds all the usual apps like mail, antivirus/antispam, etc. I can flip between any of these apps with no lag and with consistently good wifi/internet. All this in a low power package that makes no noise and is as cheap as chips :)