I have a roundabout way to connect two Thunderbolt2 27" Apple monitors to one M1MacMini
- but you won't like it much.
I have a work computer (MacBook Pro 16" 2019) sitting next to my M1MacMini. It's vertically docked with a Brydge (Henge) dock.
I connected Thunderbolt-27-A to the MacMini through a Thunderbolt-to-USB-C adapter.
I connected Thunderbolt-27-B to the MacBookPro through a Thunderbolt-to-USBC adapter (via a powered docking station)
I inserted an HDMI Dummy Plug (Headless Ghost, Display Emulator) into the M1MacMini HDMI port. I also set the display preferences for Scaled display (for scaled 2560x1440 resolution).
(https://www.amazon.com/Headless-Display-Emulator-Headless-1920x1080-Generation/dp/B06XT1Z9TF)
With both computers connected to the same network (important) I logged into the MacBookPro and initiated screen sharing with the M1MacMini. I set the display settings on the sharing to show only the HDMI screen. I then dragged the screen sharing window to the Thunderbolt-27-B display and clicked the green "full screen" button.
Now, I am looking at the M1MacMini "natively" on the Thunderbolt-27-A screen, and the HDMI port on the Thunderbolt-27-B screen (albeit screen-shared through the MacBookPro). I don't notice any lag in the screen sharing, and it works seamlessly with my mouse and keyboard connected to the M1MacMini.
Also, when I have to work on my MacBookPro, I unplug the Thunderbolt-27-A USB-C dongle and plug it into the MacBookPro USB-C port. Now, I am working on my MabBookPro using both the Thunderbolt-27" displays natively.
(incidentally, my mouse and keyboard are plugged into the USB-A ports of the Thunderbolt-27-A display - so when I switch from M1MacMini to MacBookPro, they also transfer over seamlessly).
Is it a roundabout way to get 2 full-screen Thunderbolt-27 displays working on my M1MacMini? Yes. But, it works for me - and I get the same setup for my work-MacBookPro.
(I warned you that you may not like it!)