It does look nice, though a look at the fine print is worthwhile. The original Mac Mini offered PC and other users a budget entry point to the Mac ecosystem, all the more cost effective because many people already had a mouse, monitor and keyboard or at least some of those things. It was cheaper than buying an iMac if you did.
In the modern era, it's cheaper than buying a Mac Studio (if you stay near base configuration options; go to the Pro chip and jack up the memory enough and the cost comparison shifts).
So it's no surprise that with this roughly $100 multi-port hub + SSD enclosure, you don't get the speeds a fast NVME SSD can achieve in an external Thunderbolt enclosure. From the page you linked - "Optimized to read both NVMe and M.2 SATA solid-state drives with speeds up to 10Gbps," we see not to expect that.
This isn't a criticism of Satechi. That's not a roughly $400 Caldigit Thunderbolt dock (which lacks the option to contain an SSD; you'd have to buy an external SSD enclosure and connect that to the dock).
I'm just saying people new to the product type to whom this thing may initially look like a miracle product, there is a tradeoff. Quite a reasonable one, all things considered. I point this out because the term 'NVME' tends to call to mind very fast external SSDs. When I read up on this product's predecessor, it took me awhile to realize the speed limitation.