"...handily...". Apple set the power limit for the A19 at 4 watts. The M1 does not have this limit. So in all tests using processes that tax the CPU, the M1 wins. Apple ignored the greater thermal cooling available with the new case. The A19 would beat the M1 if Apple did not do this. But no one really cares cause... it is Apple. The other points re: Walmart are valid. However, it goes to the point that Apple could sell the M1 at this price point, but chose not to. Seems likely the Walmart M1 at $599 had lower margins (My Guess), so the Neo was born.

This is most likely for battery life. The Neo has a smaller and cheaper battery, so if you didn't limit the power somewhat you'd burn through it too fast.