This is meant for big video farm remember?
No, it is the only viable modular/headless machine that can legitimately run Mac OS (...unless you count a mini that can't run a pair of high-res displays smoothly without an eGPU). It has to be a "jack of all trades" for developers, enthusiasts, scientific users etc. with diverse needs.
As such, it delivers in all respects apart from the price/spec of the base model.
...meanwhile, down on the "big video farm", its going to have to compete with proper high-density compute options, like blade servers, multiple-Xeon systems, boxes with 10 GPUs and rackmount machines with proper server features like redundant PSUs and lights-out management and 1U cases that can fit 4+ servers in the space of a MP. You don't make a server by bolting a rackmount kit to a desktop.
Even in the video industry, this looks like a creative pro's workstation - someone who is going to appreciate the Mac OS UI and software compatibility that they are paying a premium for - rather than a source of raw computing grunt. I'm sure anybody working on the 'render farm' model has long since adopted to software and codecs that are supported by generic pile-it-high hardware (...I doubt that even Apple's cloud server farms are running on stacks of Mac Minis).
Its got a temporary advantage in that it uses the newest Xeon W chips that have enough PCIe lanes to support quad GPUs with slots to spare - so none of the currently available cheaper single-Xeon machines can match it on expandability, the ones that do being more expensive multi-Xeon rigs with more cores. That could change if more manufacturers take on the new Xeon Ws.