Yes sis, you are correct. base models does half 40% reduced read and write speed. 512GB models of both 14 inch and 16 inch macbook pro models. it is sufficient for video editing, photo editing and all other works. But if you want to get the faster read, write speed and extra storage to store more files and video footages to help with your video editing workflow, you may consider higher storage.
For regular usage, such speeds around 3000 Mbps wont be noticeable.
But only if the price difference between 512 and 1TB isnt a problem, then you may consider it.