I use LumaFusion after trying many others over the past 5 years or so. The other apps that I kept around include Pinnacle Pro, Premiere Rush, and of course iMovie. By far, LumaFusion is my go-to. I've used it starting with an 10.5 iPad, and now a 11 inch Pro with
M1. I've had no problems reversing clips, adding and mixing sound, working with text, etc. I've done some grading with it too. The Apple pencil or a stylus really helps. I generally use it to make short clips less than 10 minutes. Deep editing for me is probably not very deep for a serious pro, but I actually prefer LF for editing most drone related clips. I also use Premiere Pro on a Mac for ProRes and longer projects. LF is worth the 30 bucks I paid, and so glad it's a one-time payment.
Exporting to high bit rate 4k or even low bit rate 720p has always been smooth and seems faster than my Intel-spec MBP.