This is perhaps the real genius of the M1. It's a great chip and all. But when you make it the only choice, people are finding the only choice is more than sufficient. And now Apple only has to produce one piece of silicon for their iMacs, iPad Pro, and Laptops. What a boon for logistics.
The success of the M1 is a boon for Apple, but I'm not sure that only having to produce one CPU to be used across all devices is where the optimization lies, especially considering that Apple is selling the iPhone SE with an older CPU and not simplifying by not selling it.
Just because it's being sold today doesn't mean it's actively manufactured still. They could have stockpiled the older processors or have spare inventory to continue meeting demand