The Thunderbolt 4 Multimedia Pro Dock can power your MacBook and wake it using the power button on the dock. There are two behaviors to know about.

Booting from a fully powered-off state: Starting with macOS Ventura and later, a MacBook cannot fully boot from a powered-off state with the lid closed. To start your MacBook from a complete shutdown, open the lid at least once.

Clamshell mode with the lid closed: To keep using the MacBook with the lid closed, connect an external display, a keyboard, and a mouse.

Please note: the power button on the dock does not turn off your MacBook. It only turns off the dock itself.