From a 2U developer:

[A]s a new employee, I needed 2-3 days to set up devstack on my local M1, then ran into problems with our MFE and learned that it doesn't work on M1 after trying many things

the errors I experienced in part related to fedx-scripts, as far as I remember, but it's been a few months now.

I believe the MFE in question is frontend-app-learning. If we can try to get it up and running on an Apple Silicon machine and see what is breaking with frontend-build, that would help us understand what bugs in devstack need to be fixed.