It is already in your Applications folder: iMovie. Seriously. Quick cuts, titles, 4K exports, genuinely fine, and Apple silicon made the free options even more viable than the Intel era.
- iMovie: free, better than its reputation. - Final Cut Pro: the one-time purchase that makes sense, tuned for Apple silicon, and students should check education pricing. - DaVinci Resolve: free version flies on Macs, even base models. - Shotcut and Kdenlive: the open-source angle. - Phone apps: good enough now that your Mac may not be the editing machine at all.
Do the math honestly: two years of a mid-tier subscription buys Final Cut outright with change left over. Unless client work chains you to Adobe, the one-time route wins for individuals. And for the images you export from any of these, PicConvert handles format conversion free forever.