You need LOTS of internal, fast, disk space. Photoshop can easily need 50GB free, just to start and run. No Creative Cloud product is yet made for the Apple M1, so it's far too early to say what the syste, requirements will be. Right now, M1 is for people who need to test in advance to see what will work in future. I have one on order to do that, I wouldn't expect to be able to do any work on it.