This is basically the performance of M1 with 8GB ram (with shittier USB/connectivity). I've seen developers who used the 8GB air a few years ago on a project. It would't work for me (even the 24GB air I have is swapping), but I can see this working for students without any problems.

Buying this for a kid would be a no-brainer for me - especially if it was on a discount (and it's not uncommon for Apple stuff to get 10-20% discount drops at retailers). Even the USB 3.0 is enough to power an audio interface - should be good enough to run some basic DAW, a MIDI keyboard, electronic drums etc. Will probably pick it up for my son at some point to motivate him to learn to type.