I seem to have misplaced my good cable, another one's on order. And just in time because in testing an M1 for work - specifically the MDM wipe command (which prior to Monterey would always ERASE the SSD requiring a painfully slow OS reinstall over the network; in Monterey it is supposed to revert the drive to clean OS install state and that seems to work about 50% of the time) - it's somehow gotten bungled to the point where after nicely wiping back to clean OS and working fine for hours, I shut it down and now it only displays a black screen with a grey encircled exclamation mark (!) with the text [
support.apple.com]. I'd understand this if I'd issued another wipe command, but as things stand it was a functional OS last night, fully patched to 12.1, and then it was shut down. Now, to be fair, I did run nvram boot-args="-v" ... oh and I was screwing around and set auto-boot to false. I'll bet that did it.
Anyway, absolutely, a good USB-C data cable should be able to transport ethernet - doesn't necessarily need to be thunderbolt does it? It just can't be the power delivery cable Apple provides with the USB-C power supplies. I'm hoping that I can share internet from a host Mac running caching server with connected Macs needing full software restores / internet recoveries connected via USB-C / tbolt to the host Mac to get MUCH faster download speeds since it should almost entirely be coming locally from the host Mac's fast SSD.
Sorry, that's a lot to unpack above. To answer your question, tldr; YES!
g=