After using my new M1 Mac Book Air and my new 11" iPad Pro for some months now, I'm able to judge a little better how I use these machines:
First things first: The Air is the main machine. Wether it is note taking or coding, gaming or just watching youtube: I really like to use my Mac more than I like my iPad. The iPad is strictly better for cooking and is used frequently for that, but I have not used the machine to its full potential. I have noticed that I'm a very stationary person and like my current desk setup (private laptop on the left, KVM-enabled Display in the middle, work laptop on the right, Ergodox EZ as my keyboard and Logitech MX Master 3 as my mouse), which doesn't include a real place for an iPad. I rarely work on the kitchen table - the only other spot really usable for writing/sitting down to do computer things in my home. Even when I'm traveling it's the laptop not the tablet that gets used.
That being said I'm happy about owning an iPad Pro, too. I use it frequently enough to make it worth the purchase, even if I'm a light user of it. Next time around I probably would get a cheaper, more basic model. The Air is just plainly a great computer and I can't even conceive a justification for wanting more out of a private computer (which gets used for 1 to 8 hours a day, depending on if it's the weekend or free time after work).