The current Steam problem on macOS is more about 32 bit games that never received 64 bit builds, which means they are not playable anymore since Catalina independently of the Intel vs Apple Silicon hardware, notably the first-party GoldSrc and Source engine games, and all of their third party derivatives.

I would not really care if my game library was going through Rosetta 2, as I'd rather take a theoretical performance hit (vs a native arm64 build) than outright be unable to play.