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M3 looks better than the M4 to me.
Even without kids, there are occasions when a 3rd adult or 4th needs to be in your car. Maybe if you're truly a hermit then the practicality advantage is moot. It's also more difficult to get back there to clean.
I think the M3 also comes across differently. It's a sedan that is sporty and can perform at the level of many sports cars on the road. It's practical, but fast.
The M4 sort of comes across as a sports car wannabe, but it isn't a sports car, and isn't quite as practical. Personally, the look slightly leans too far into "boy racer" territory.
My memory could be partial, but for the M cars in the 90's and early 00's I don't recall such a young following with these cars. They seemed to have more mature/older owners. Today I think the reverse is true, that the less expensive M cars are predominately owned by a younger demographic.
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