You may find one of those that will give you the results you want and you can purchase for a fraction of what a year's rent of Photoshop will cost you some are even free. Given you can no longer purchase Adobe products, they are available as rental only tools, you might want to consider some of the less expensive non-Adobe alternatives that are available on the Mac. WIth the mini I only have to replace/upgrade one or the other. I switched from iMacs to the mini because I bought a new iMac I always had to buy both the monitor and the processor.
If you are going to buy an Apple monitor in addition to the mini, the price defference between that and a high end iMac will only be few hundred dollars and the iMac will be faster. If you already have a good monitor, that you like the fully tricked out mini would be a good buy for you. I have done some iMovie work on my fully loaded mini and I have been very pleased with the rendering speed and that is what seems to take the longest time. Tested with prerelease Affinity Photo 1.9.0.199 using the builtin benchmark version 1900.
The fusion drive will yield disk I/O performance close to that of a full solid state drive (SSD) and that can be helpful with Photoshop as well. Testing conducted by Apple in October 2020 using preproduction Mac mini systems with Apple M1 chip, and production 3.6GHz quadcore Intel Core i3based Mac mini systems with Intel UHD Graphics 630, all configured with 16GB of RAM and 2TB SSD. If you are going to be doing a lot of Photoshopping I would go for a top of the line mini with the 2.6GHz quad core i7 processor and a Fusion drive. Photoshop is very RAM hungry, but perhaps even more hungry for CPU resources. Also, be aware that this 32GB max is reported only to work with the i5s and i7s, not the i3s or the older Core 2 Duo processors which max out with 16GB Ram at 1.5V setting.You would definitely need 16GB of RAM and you can save some money buying the additional RAM from Other World Computing or Crucial. So look up the serials on the manufacturer or vendor website that lists the specs and go from there. In this case, the 1333 Mhz speed is what is reported. Issue is not with higher speed memory which just defaults down to the lower speed that the BIOS supports. Samsung, like Crucial, Elpida, Kingston, Corsair, etc all make good memory, but even the best memory will not work if it is does not support the correct voltage type. Apples new M1 Mac mini is proving to be a popular entry point into the Mac lineup this holiday season, and shoppers looking for a well-equipped model can save an impressive 100 to 150 on units. So, some people will report Samsung as working, and others will say it does not. Trick is to make sure the memory you get supports 1.5V as most of the newer memory is lower voltage (eg., 1.35V or 1.2V) that is NOT SUPPORTED by the iMacs older than 2013. Memory under "About this Mac" is reported as "32GB of 1333 Mhz DDR3." Therefore, not reported as its native 1600 Mhz. Ports and connectivity come via 1 Firewire 800 port, 4 USB 3.0 ports, 1.
Was able to install four (4) mixed serial 8GB SO-DIMMs of Samsung PC3-12800 (1600Mhz) DDR3 SDRAM memory modules (Samsung Memory sticker IDs listed as M471B1G73DB0-YK0 1338 and M471B1G73CB0-CK0 1251) in a Mid-2010 27" iMac with an Intel 2.93Ghz i7-870 processor. The model Mac mini 'Core i7' 2.3 Late 2012 (Aluminum) is powered by a 22-nm Quad Core Ivy Bridge 2.3GHz Intel 'Core i7' (3615QM) quad core processor, has a 6MB level 3 cache, 4GB DDR3-1600 SDRAM (PC3-12800) memory installed as a pair of 2GB SODIMMs, a 1TB hard drive and a (shared memory) Intel HD Graphics 4000 processor.
However, your system will operate at the speed of the slowest memory module. Memory is designed to be backward-compatible, so generally speaking, you can safely add faster memory to a computer that was designed to run slower memory. Here's some relevant information from Crucial on memory speeds (emphasis mine):
You could add the 1600 MHz memory for your MacBook Pro even though it's designed for a slower memory (1066 MHz) - it ought to work, but you'd be better off buying from a place that accepts returns.