For months now I have had more than 5000 books downloaded to my iPad with the M1 chip. I have had no problems with the Logos mobile app. Very convenient when I am out and about without wifi connection.
Perhaps I will yet have trouble, but not yet despite many warnings to expect it. Of course, I cannot say that I have opened all 5000 books downloaded to my iPad, but of the many that I have opened there has been no problem.