Big Sur + M1 MBP =?

Hi all-I am a bit confused about whether a My Cloud Duo will work with Big Sur AND my M1 MacBook Pro.

Also, can I replace the drives?

I am looking around for a NAS drive for dummies to load my photos, documents, etc. and then share some of my stuff with family and friends and I like the idea of a mirror drive. Oh, and I want to use it for Time Machine backups.

Thank you!