The ARM64 port doesn't yet boot all the way to desktop in QEMU, so it certainly won't run bare metal on an M1, unfortunately.

You can certainly dual-boot it on x86 machines, though.

Is RISC-V port in any better condition?

Yes. As I noted in another comment, the RISC-V port is basically "fully functional" and only lacks software (HaikuPorts is set up to build on it, but we haven't yet created binary package repositories for RISC-V.) I know at least one Haiku developer has a HiFive Unmatched and it runs Haiku pretty well.