Here it is. This is the solution to the low memory issue on my M1 MacBook Air. I used to use a 1TB NVME SSD in a USB-C enclosure (which you can find for around $35). The transmission speed was too slow for everyday use with video editing etc. This Thunderbolt 3 case is significantly faster, for example transferring a 7GB file in about a second. This kit is of a very high quality and includes a keychain screwdriver, heatsink and well written instructions. I'll be posting a durability report in a few months, but for the price, this is the best value I've found for a Thunderbolt case.
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