For what purposes will the RAM and storage not hold up?

I see most people around me watching media, using a web browser to shop, maps, look at photos/videos (small storage is great for Apple, then more people buy icloud), fill out pdfs, and maybe some email or light excel.

Presumably, those are the people likely to buy a laptop at Walmart.

Storage can at least be expanded externally, if at a cost of speed, reliability, and convenience.

For the RAM, 8GB is not enough, but in fairness, when the system can page out at 200GB/s, paging out doesn't hurt nearly as bad. Its only when things have to thrash the page file that it becomes readily apparent on these (say, an application needs to have more than a few GB of stuff resident in memory all the time).

I agree. If you’re using a lot of cloud services (Google Docs, iCloud Drive, Spotify, etc) you can get by without a lot of storage these days.

But even if 8 GB of RAM holds you today, will it hold you five years from now?

Or are you going to have to get rid of the computer much faster and buy another one by then.

Whereas simply doubling the RAM would likely extend the life a significant amount.

8 Gigs of RAM still give you a great experience if you don’t do everything at once like I do.

It’s not high spec for sure, but with M1 RAM counting double (they swap very efficiently up to a certain point) it’s still plenty for casual use.