EF-M 55-200 is as far as she goes. Want 250 or 300? EF-S or EF (adapter needed). The nature of the question here was building on adapted lenses. You need to adapt to hit those focals.Why? I think the AF of new M6mkII can handle quite some reach, and i would love to see an M5mkII doing the same!and, EF-M options don't exist for this reach.
You're talking just light transmission, and you're right. But bokeh? Is f/2 not f/2? I get you riled up every time on this oneDefinitely not a full T-stop. The 22mm vignettes so heavy at f/2.0 you can hardly call it f/2.0. It isn't that useful for getting lower ISO noise. You will have a little less noise in the very center, but everywhere else you will have f/2.8-like noise anyway due to the need of lens corrections for vignetting.But normal zooms, primes, macro, ultrawide and superzoom options make more sense in native EF-M for a litany of reasons over their EF-S brothers to include better IS, sharper, smaller and lighter, better operational specs (EF-M 22mm f/2 is a full stop faster than it's EF-S 24mm f/2.8 STM brother
You're also ignoring the EF-M 32mm f/1.4 STM, which, there is no EF-S lens that's f/1.4 (from Canon anyways; actually is there even a third party f/1.4 EF-S lens? I can't think of one off the top of my head)