Appreciate your answer, but a downvote for the Apple manager who mandated the change from a nicely working system to the mishmash you describe.
goofyfooter
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Apple Engineer, thanks for your post.
I filed a Feedback report, FB13344011, November 2023,
Where else can I file a bug report?
I moved an old project from a MacBook Pro/Catalina/Xcode 12.4 to a M1 Mac mini/Ventura/Xcode 15.2. Although the project on the MacBook Pro produced Universal builds for Intel and Apple Silicon, on the Mac mini it showed "No eligible devices connected to My Mac…" for the project's targets.
After changing "VALID_ARCHS" from "i386 x86_64" to "x86_64 arm64" the Apple Silicon destination became available. Problem solved.