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Probably best to look at it as a competitor to a Xeon D system, rather than any full-size server.
We use a few of the Dell XR4000 at work (https://www.dell.com/en-us/shop/ipovw/poweredge-xr4510c), as they’re small, low power, and able to be mounted in a 2-post comms rack.
Our CPU of choice there is the Xeon D-2776NT (https://www.intel.com/content/www/us/en/products/sku/226239/intel-xeon-d2776nt-processor-25m-cache-up-to-3-20-ghz/specifications.html), which features 16 cores @ 2.1GHz, 32 PCIe 4.0 lanes, and is rated 117W.
The ostensibly top of this range 4584PX, also with 16 cores but at double the clock speed, 28 PCIe 5.0 lanes, and 120W seems like it would be a perfectly fine drop-in replacement for that.
(I will note there is one significant difference that the Xeon does come with a built-in NIC; in this case the 4-port 25Gb “E823-C”, saving you space and PCIe lanes in your system)
As more PCIe 5.0 expansion options land, I’d expect the need for large quantities of PCIe to diminish somewhat. A 100Gb NIC would only require a x4 port, and even a x8 HBA could push more than 15GB/s. Indeed, if you compare the total possible PCIe throughput of those CPUs, 32x 4.0 is ~63GB/s, while 28x 5.0 gets you ~110GB/s.
Unfortunately, we’re now at the mercy of what server designs these wind up in. I have to say though, I fully expect it is going to be smaller designs marketed as “edge” compute, like that Dell system.
It is a good question.
Where I live, electricity costs around $0.28/kWh, but generation is typically >85% renewable (predominantly hydroelectric).
My heat pump (4.7 COP when heating) would cost $0.06 to run for every 1kWh of heat it produces, with only 0.03kWh of that electricity coming from fossil fuel sources.
Gas - which I don’t have at my house - would have pricing in the neighbourhood of $0.15/kWh. Even at 95% efficiency getting 1kWh of heat from gas would cost $0.16, using 1.05kWh of gas.
35x the fossil fuel usage and 2.5x the price, for the same quantity of heat. Some luck of living in a moderate climate where an air-source heat pump almost never loses efficiency, to be fair.