Same issue- brand new iMac with the M1 chip and out of the box storage available (like +800G) and high speed internet. Says 2-4 days to download 12GB and fails. Not sure what the deal is but on second try now (2 days) and will call store if it still doesn't work or there's no good answer here. Sort of underwhelmed by this issue given my expectations for Apple.
Mike1701
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