First of all, it works. I have two monitors open and my M1 Air is closed on my desktop. Yes, you need additional hardware for this: I have an OWC hub. No I haven't tried experimenting to find the minimum hardware to make this work. I will not return it. This works well enough for me for what I need to do. But maybe you don't like it. Daniel Compton's post on DisplayLink and the M1 Mac has the details, but: The DisplayLink solution doesn't quite match the resolution, color management and responsiveness you'd expect from a Mac. My color balance is slightly different between the two identical monitors I'm using with this setup (one via Thunderbolt connection, one via this box). This might fry my cookies if I do a lot of photo editing or something like that. So what to do? The use case here is if you already have a couple of monitors and are trying to get your Mac to work with them. This is my situation. So I'll keep it and use it mostly for spreadsheets and stuff like that. If you need to do that and have an extra hub or similar, this will work. But if you're starting from scratch, consider taking the money you're willing to spend on extra documents and adapters -- and maybe a few extra bucks by selling some of your current hardware -- and putting it in a really big monitor instead, USB-C. Support and all that - let's say 32 inch 4k or something like that. (I haven't found a 27" 4k that I like yet, your mileage may vary.) Get a good one. You'll use it for years - hey, I have a 10-year-old Apple Thunderbolt display that's still cool is - and your eyes will thank you.
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