That's not accurate.
Parallels Desktop allows you to install Windows 11 on ARM by downloading the image from the MS servers. It can be activated with any valid W7/8/10/11 license key. There is no architecture dependence in the license keys. I installed W11 on M1 in Parallels Desktop using by using a spare W8 license key lying around.
So effectivel you can "buy" Windows 11 on ARM and run it in Parallels Desktop on the M1.