I have gone down this path and using M1 with Asahi Linux (Fedora on Gnome 45), yes on a second partition alongside MacOS. I'm very happy with it so far.

Running the same setup on an Intel processor is a degraded experience. It's really much worse.

Caveat: On Asahi not all hardware is fully supported. Check their wiki: https://github.com/AsahiLinux/docs/wiki and follow @marcan (https://social.treehouse.systems/@marcan). Speaker support is coming, and I think HDMI support too.

I have lots of tips and tricks if you want to (for example, I swapped Ctrl with Cmd to make some keybindings more ergonomic)