TDP is the max design power of the platform, not the average though.
The M1 maxes out at somewhere just under 30W - Anandtech measaured it at 28W after removing the platform power use. The M1Max will probably run somewhere from 40-50W under max CPU load, more if you load the GPU as well. The M1 is a great chip, but it’s not magic - it appears to be approximately 1.5-2x as efficient on a per core basis? Which is about what we’d expect from a process shrunk + decent optimisation work by a very able team. What absolutely isn’t is 10x more efficient.
(Yes, TDP has been gamed somewhat by both Intel & AMD, and might not be the absolute max power over very short timescales, but it’s still intended to be the measure by which you scale your cooling system for extended max cpu usage & on that level the M1 is not a 10 W chip.)
For most users, this doesn’t matter - Apple has specced the cooling system in their laptops to cope with typical usage so it can run the M1 at full rate for a few minutes, which is plenty to render a web page or do some other UI work. It’s even enough to run most developers compile jobs. But if we’re comparing processors, then comparing the TDP of an Intel or AMD CPU with Apple’s “typical” power usage is misleading, one might even say disengenuous.
(it does, broadly, appear to be pretty comparable to Intel i9-11900K https://browser.geekbench.com/v5/cpu/search?q=Intel+Core+i9-... )