No it's not. Depending on your needs the current Mini (especially a refurb) may be a fine choice.
this is the truth plain and simple.
mac minis are still good.
if you need usb3 buy this
http://www.lacie.com/products/product.htm?id=10599
if you need a fast cpu this mini is good
http://store.apple.com/us/configure/MC936LL/A?
if you need a cheap mini this is good
http://store.apple.com/us/configure/MC815LL/A?
the main problem for these machines is they are overpriced. I own 2 of the low end models with some t-bolt drives. they are nice machines but price too high...
the low end is worth about 500 sells for 599
the server is worth about 850 sells for 999
the two midrange models are really overpriced since the gpus in them have gone out of date.
the cpus in all four models are still pretty good fast cpus.
my advice is don't buy a mini if you want it for gaming and graphics.
but if you can find a low end model under warranty for 500 and they have been that low. it is worth it.
if you need a good 4 core i7 cpu and can find the 2011 server for 850 under warranty it is a good item.
here is a server for 950 new.
http://www.jr.com/apple/pe/APP_MC936LL_SL_A/
if you buy with a discover card and link from the discover site you get a 5% discount so 950 drops to about 902.50
if you need a quad core i7 it is not a terrible deal.