Reddit members have answered the question of what browser is best for M1 and M2 based macs.
Personally, I've been using Chrome for several years (switched from Firefox because it's performance when using extensions was often terrible). However, since Brave is also a Chromium-based browser, I'm going to start using it more to protect my privacy, and I already use it as my main browser on my phone.
TLDR:
Safari for 90% of web browsing. Brave when Safari doesn't work on some websites. Chrome if all else fails.
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Safari will save battery life and is the most integrated with Mac OS.
The next best option is Brave (if you care about privacy). It's based on the same Chromium engine as Chrome, but your personal data is not being shared to google, and you won't be tracked online as much. Ads will also be hidden from many websites!
Firefox is great for customization, but it may not be as fast as Brave or Safari.
Why Safari over the other browsers (as long as you don't need speciality websites that break in Safari)
"Safari. Native stuff always has the fast lane. Firefox is pretty bloated with still poor memory management. Chrome is pretty zippy but it's feeding all your browsing into Google. Edge is essentially Chrome (chromium platform) and feeds all your stuff into Microsoft (not sure that's better than Google). Brave (another chromium variant) has your back with regards to privacy but like all browsers on that platform, is pretty disconnected from things iCloud (passwords, tabs, etc.)."
- ultratiem
It really comes down to how you use your browser:
Safari has the best integration with Apple products and the best battery life. Extension support is bad compared to Firefox or Chrome and since most sites are made for Chrome these days, you may find a site or two where not everything works well.
Chrome has more extensions, better site compatibility and better security, but isn't good for privacy. Performance on macOS might be a bit worse than Safari and will use more power.
Firefox is between Safari and Chrome in terms of extension support and probably the best option for privacy. With my usage, performance is better on Chrome, battery life is similar to Chrome and not as good as Safari, and like Safari, you may find the odd site that doesn't work well with it.
- [deleted account]
Why using regular Chrome is bad:
"If you want to use Chrome, don't use vanilla Chrome. Use Brave, which is based on Chromium and has a privacy focus. If not Brave, use a Chrome-derivative browser. Don't use vanilla Chrome."
-JimmyNeutrino2
Why Edge over Chrome:
"If you need a Chrome-based browser don’t use chrome, use Edge."
Edge also has privacy and ad placement issues
"Edge seems to be worse than Chrome:
https://www.zdnet.com/article/a-professor-says-edge-is-the-worst-for-privacy-microsoft-isnt-happy/
https://www.scss.tcd.ie/Doug.Leith/pubs/browser_privacy.pdf"
- [deleted account]