You're switching interfaces, but the underlying connection via the PCIe slot in this instance remains x1 whereas an SSD can typically utilize speeds right around x4 (Gen3), although some older will cap out at Gen2 x4 (which is equal in bandwith to Gen3 x2). Either way, and x1 interface is going to limit any M.2 SSD.
How much slower, really depends. Might only test as slower in benchmarks, but I'd expect it to be noticeable in day-to-day use.
Why are you considering an adapter? What motherboard do you have? Do you already own the M.2?
If you don't already own the M.2, the cost + adapter is a waste. You'd be best served by a 2.5" SATA based SSD.
As far as a network card goes, generally, yes. Networking is a more appropriate use-case for x1.
Rarely will it scale linearly with limited lanes, but in a very simplistic sense, you could use that as a (very) rough idea.