I use Safari all the time on my M1 Air but it’s definitely less capable than Firefox for adblocking. Firefox is the only browser that can run uBlock Origin or uMatrix.
AdGuard on Safari seems a reasonable replacement for uBlock Origin. I also recently learned about https://arc.net/ and https://browser.kagi.com/ as better alternatives, though I haven't tried them out and do not know how they compare in terms of tracking.