I would argue that something like an Intel N100 mini PC isn’t doing noticeably worse on your power bill, and more powerful x86 mini PCs will give you a better performance per dollar at close enough performance per watt.

And then you get all the advantages of the x86 ecosystem, more modularity, etc.

Heck, I wouldn’t be surprised if the base model M series Mac mini is competitive so long as you can get Asahi Linux to do what you need.

Maybe five years from now we will see ARM or RISC-V mini PCs further narrow the Venn diagram for raspberry pi systems.