CPU performance doesn't tell the whole story when it comes to system performance.
For some tasks, the person sitting at the keyboard, or the slow mechanical hard drive, is the bottleneck. Once you have started up your computer, and your word processor, and are working on a document, chances are that even a 27" 2010 iMac will have no problem keeping up with you.
That said, on single-core CPU benchmarks, a M2 or M2 Pro Mac mini would be about 3.8x to 4.2x faster than a 27" 2011 iMac. A 24" M3 iMac would be about 4.4x to 4.9x faster.
On multi-core benchmarks, any of these Apple Silicon Macs will beat a 27" 2011 iMac by at least 4.2x. The fastest M2 Pro Mac mini would beat the slowest 27" 2011 iMac by a factor of 8.8x. In order to get the benefit of the speed, you would need a job that can keep a CPU busy for a while, and that can also make good use of multiple cores.
Multi-core benchmark scores (from MacTracker)
- iMac (27-inch, Mid 2011) – 1617 (2.7 GHz Core i5) to 2274 (3.4 GHz Core i7)
- M2 Mac mini – 9754 (8-core CPU)
- iMac (24-inch, M3, 2023) – 11705 (average)
- M2 Pro Mac mini – 12180 (10-core CPU) to 14287 (12-core CPU)
I used a 2011 iMac as a baseline because there were no scores for the 2010 one in MacTracker.