It’s actually better in many ways: 2K OLED touch screen, convertible with pen support, double the RAM, backlit keyboard, ranks better on battery life for office tasks, a far wider array of ports.
If you stretch to the 1TB model you get the Ryzen 7 AI 350 which beats the Neo on integrated graphics and multi-core processor speeds. You’ll pay a little more but if you need the storage the Neo is out of contention already, and at that price your MacBook Air will come with 256GB.