Justin is right. It looks like when I installed the M1 version of Reaper, it didn't remove the Intel version, and I ran the Intel version instead of the M1 version.
And Justin is also right that when I finally ran the M1 version, I could only load VST2 plugins (which sucks if you intend to side chain a compressor, I think sidechaining only works with VST3, or I don't know how to do it with VST2).
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