It's a bit slow, but still workable for Rust too. I prefer doing my daily work on a much more powerful 9955HX though.

Makes sense; according to Geekbench, 9955XX has about a 25% lead in multi-core over the base M4, and about a 5% lead in multi-core over the base M5. And more cores, so better for parallel Rust compilation.

I'm comparing it to my M2 laptop, but in practice the 9955HX is substantially faster than even the M4 Pro I have in my Mac Mini, about 30%~ or so in wall clock time for Rust compilation.

Yep, Pro only has 12 cores, and a third of those are efficiency cores. Even the Max loses some of its performance to efficiency cores. This is why I was so upset to see Intel replace a bunch of performance cores with efficiency cores. (Remember how Intel used to offer enthusiast chips with up to 18 full fucking cores? Now they think 8 full cores + 16 small useless cores is the answer? I am appalled. Even aside from HEDT they used to offer up to 10 full cores.) More, and more performant, hardware threads is almost always the path to faster Rust compilation. Lose a few of those to efficiency cores and even Apple can fall behind.