last I heard for the private compute features they were racking and stacking m2 mac pros

I honestly forgot they still made the Mac Pro. Amazing that they have these ready to ship on their website. But at a 50% premium over similar but faster Mac Studio models, what is the point? You can't usefully put GPUs in them as far as I know. You'd have to have a different PCIe need to make it make sense.

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all PCIe lanes combined in that machine can do over 1 terabit. Would be quite the networking beast.

The M2 Ultra has 32 off-world PCIe lanes, 8 of which are obligated to the SSDs. That leaves only 24 lanes for the 7 slots. That's 8 times less than you'd get from an EPYC, which is the kind of thing a normal user would put in a rack if they did not need to use macos.