No, the problem it was solving was "how do I verify that an incoming connection is actually from xmpp.foo.com and not from an impostor?"
You could also solve this with API keys or plain old authentication, but all of those require effort on xmpp.foo.com's side to specifically support your server.
Client certs seem better suited in that regard. A server can generate a trusted client cert once, and then everyone else can verify connections from that server without having to do any prior arrangements with it.
