In plain English: your engine computer is getting readings from the mass air flow (MAF) sensor that don't line up with what it expects. The sensor is talking — the numbers just don't make sense for how the engine is actually running.
Plenty of P0101s show up with no symptom at all except the light. That doesn't mean nothing's wrong — it means the computer caught it early. That's the system doing its job.
When a P0101 rolls in, I put my hands on the intake boot before I touch anything electrical — flex it, look underneath where the cracks like to hide, check the clamps. Then I pull the MAF and hit it with a flashlight looking for oil film or debris on the element, and I check whether the air filter's been over-oiled. After that it's live data: MAF grams-per-second at idle and on a throttle snap, compared against the freeze-frame conditions stored when the code set. In my experience a lot of these cars never needed a new sensor — they needed a $10 can of MAF cleaner or a $30 boot.
Honest answer: usually yes, short term. The computer falls back on other sensors and estimated values, so the car generally keeps running — just not right. But weeks of driving rich or lean isn't free: it fouls plugs, and a long-term rich condition can cook the catalytic converter, turning a cheap fix into a four-figure one. If it's stalling, bucking, or blowing black smoke, deal with it now. If it's just the light and a slightly lumpy idle, you've got time to fix it right — just don't sit on it for months.
Broad, honest ballparks — every car is different:
DIY:
Shop: expect a diagnostic charge — commonly somewhere in the $100–$200 range depending on your area — plus parts and roughly an hour of labor if something gets replaced. A P0101 that's just a dirty sensor is cheap. A failed OEM sensor on a European car isn't. Nobody can honestly quote you a number without looking at the car, and walk away from anyone who does.
Before you pay anybody a diagnostic fee, know what you're walking in with. My app, Auto AI Diagnostics, reads the code for free with any cheap ELM327 or vLinker Bluetooth adapter — the $30 kind, nothing fancy. AXEL, the AI inside, doesn't hand you a generic definition: it reads your car's freeze-frame data — engine load, RPM, temperature at the moment the code set — and explains what P0101 most likely means on your vehicle, in plain English y en español. Maybe you walk into the shop informed. Maybe you find out it's a ten-dollar can of MAF cleaner and skip the visit entirely. Either way, you're not guessing.