I do not know if Apple will ever release another 12" MacBook (regardless of whether it is an Air or a Pro but there has been a lot of attention focused on it recently. As someone who will need a new MacBook soon, but not immediately, I can afford to wait at least a year.
I am currently writing this post on a 2016 12" MacBook that I bought for the purpose of writing and some light professional work. The professional part is debatable but I definitely have gotten a lot of milage out of this MacBook. I love the size and for a while the battery life. The keyboard is fine though the right shift key is giving me issues. And the speed is fine enough for browsing the Web, coding at a beginner level, and, of course, writing.
In a year, should my coding turn into more than just a hobby and other professional needs arise, I will be have to start the upgrade process. And by then, a 12" MacBook?
I'm hoping Apple just make it happen already in a year or so. Arguments for it are there. There are those who argue that the new M2 MacBook Air is perfect already. And if in a year, perhaps that is what I will upgrade to if there still is not a 12" MacBook on the market.
However, I think users who have never owned and used a 12" model have to understand that those of us relishing for a 12" laptop have our reasons. One quickly comes to mind - it just feels different when I am on my 12" as opposed to the Air that my wife has. I'll be fine with an Air but the portability of the MacBook cannot be matched by anything else. Whenever I read user comments to related articles and on Twitter, some even goes as far as to mention the 11" MacBook Air from 2015.
There is a market for a high quality, well spec-out 12" MacBook. There has been rumblings that it could be a Pro model. So be it. I think it is worth a premium if Apple can give up a bit more speed than the lower powered Intel versions. Many have forgotten but in decades past, light and small commanded a premium price even if it was underpowered at times.