I did a macOS Migration Assistant from Mac Mini 2012 to M1 (there was absolutely no online noise about the M2, and I tracked that for ages, grr!*). Connected the two with Thunderbolt 3-to-2 adapter and a TB1/2 cable and it was fairly quick.
I hadn't stopped the TM schedule on the MM-2012 before doing this and I now have the MM-M1 backing up to the same sparsebundle on the old NAS. I had isolated the MM-2012 from WiFi and wired LAN, so afterwards I stopped any chance of it doing another backup before allowing it back on the network.
My TM archive goes back to April 2022, it's the most stable/reliable TM archive I have, and I can go into the backup before the migration. One thing I see is my Mac user's home folders have a locked icon (e.g. Movies, Music, Pictures, etc) for backup point before the migration.
I probably should have just wiped the sparsebundle folder on the NAS, but it's not hurting anyone. My wife's MM-M1 is now only using
ABB for the Time Machine-like backup.
*the M1 still knocks the socks off the 2012 MM (both have 16GB RAM and 1TB SSD). And heat is much lower when running at max CPU, which means the fan is quieter too. The only thing I miss from the 2012 is the optical audio output that was built into the 3.5 mm jack. Which I fixed with one of these:
https://www.amazon.co.uk/gp/product/B0B2DBGKL3