Just got this from pCloud:
Hello,
Thank you for contacting pCloud’s Technical Support.
Our developers used Intel components in order to design pCloud Drive version for M1 devices and this is the reason Rosetta is needed. They are currently working on a native pCloud Drive Apple Silicon version and I hope that it will be available soon
We have designed our own pCloud extension instead of macFUSE but it stopped working with the latest MacOS versions and this is the reason we made a working version with macFUSE. Enabling “reduced security" is also needed for the pCloud extension to work. I hope that the developers will find a workaround for the extensions in the near future.