TheSmokingTire video showcases the 2023 BMW M3 Competition, a high-performance marvel with 500 horsepower, all-wheel drive, and a $101,000 price tag. Comparing it to the f80 M3, the host highlights its forged internals, larger turbos, and superior power delivery. The new M3 offers enhanced driving dynamics, adaptive dampers, touchscreen interface, and exclusive features in the M3 Edition Yara, celebrating 50 years of BMW M3 excellence.