Big Sur uses AFPS for the disk structure. In APFS, there are two new concepts: Container and Volume. At the hardware level, you still create a Partition, but now in that partition is a Container and in the Container are Volumes. Volumes mount as "drives" to the system and show in Finder as drives.
To accommodate this change Disk Utility also changed. Look at this:
On the left you can see the Hardware at the top, named "APPLE SSD..." and below that is a Container an in the Container are two volumes, Macintosh HD and Macintosh HD - Data. Those two are merged logically by Finder to look like one drive on the Desktop and in Finder and appear as "Macintosh HD." One is greyed out because I am on Monterey and in that version of the OS the system drive is read only, so I cannot access it directly.
Also, note the dropdown menu to the right side. That came from clicking on the icon labeled "View" on the bar there. The default is "Show Only Volumes" but to do what you want you need "Show All Devices."
OK, with that background, if what you want is to erase the drive and prepare to sell or give it away, first check out of iCloud, cancel Find My Mac and then open Disk Utility.
Once you have the view like mine, you can fully erase the drive by selecting the hardware line, then use Partition to make ONE partition, formatted APFS and GUID partition scheme. Or you can skip the partition and just use Erase to wipe out the hardware and replace it with new container and new volumes. Doing either of those will totally wipe the drive. Now reinstall the OS from either a bootable USB drive or over the Internet. Search at Apple.com for "Internet Recovery" and follow the directions there.