Not really… I have tried it before on an m1 iPad. It is not usable for any windows version. XP for example takes over 15 minutes just to boot. It takes multiple seconds for clicks to register, etc.
Linux, like Debian for example, will be much more usable, but still far from anything you would call a smooth experience.
Again, not having JIT really kills the performance here.
Because ARM is not the same as ARM. Windows arm does not natively run on an Apple M1 Processor and MacOS does not run on a raspberry pi.