Terrible performance on Mac Mini M1

I just got my M1 Mac Mini 16GB and the performance has been quite poor.

I see people doing heavy grading with tracking at 6K, while I can't get 24 fps playback at 4K and 5 simple nodes. Exporting runs at 4 fps for both ProRes and H.264.

The SSD performance is also quite bad, with My EVO reporting in at 290 MB/S, and the Samsung T7 at 34(!) MB/S so I can't even use that one. Not connecting through a USB hub.

Has anyone seen this as well and know how to fix this?

Anyone? I don't know if I need to exchange my M1 or if it's a Resolve setting issue.
Support has not replied to me yet.

Nodes

resolveM1.jpg (30.86 KiB) Viewed 280 times

Here's a screenshot of my nodes. Not much going on, as you can see.
Once I add either of the parallel nodes, the machine cannot keep up with 4k @ 25 fps (all the nodes to the right are disabled). This is running off of the internal SSD, so it's a CPU/GPU issue.
I also have already generated optimized media.