It is not only about efficiency, but also about these so called MiniPCs (N100, Raspberry, Rockchip, etc.) being sold for > 100 bucks these days and with a little effort you can build a REAL server with ECC and NVMe based on older used hardware for only a little more money with ECC RAM, similar efficiency, way more power, cool remote features like AMT / ILO and better OS / Software support due to x64 architecture.
I think the whole "Raspberry as a home server" discussion is pretty much overrated since the prices went up, because nowadays it always seems to be a compromise in terms of price / performance.