Kernal panic on start up for MacBook Pro 13 (M1 chip)

if you can do so, YES it is worth escalating. The first responder may try to tell you it's fine, but politely insist on having a specialist look at your situation.

Only by having multiple reports of an obscure issue reported, can Apple be persuaded to move to looking into and fixing such an issue.

Kernel Panic Reports are stored at:

/Library/Logs/DiagnosticReports

If you copy and paste that string into:

Finder > Go menu > Go to Folder

it will take you to where those reports are stored.

They are named with Date&Time and start or end in ‘panic’

If you find one, please post the entire report here, by using the “additional text” Icon in the reply footer (looks like a paper with writing).

Please don’t post more about 20 lines of any other types of reports — they are interminable, and any information useful for this purpose is on the first screenful.

There are three quick take-aways from any panic report.

1) The panic-reason,

2) the extensions present at the "scene of the crime", and

3) the BSD process in which the problem occurred.

One more item that is important is the names of any third-party Extensions you have added. They are shown FIRST in the extensions loaded section

Your M1 Mac with Monterey 12.0.1 discovered that the bluetooth driver had wandered off, and not set a waked-up state.

No third-party kernel extensions loaded.

If this is a one-off problem, you can ignore it. If this a recurring problem, it could indicate a Hardware issue.