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The things use like ~1W of power, so the board itself is surprisingly efficient compared to a "real" server.Try 3.5 watts[1], not counting overhead of most USB power bricks being incredibly inefficient.
A current-gen 35W laptop CPU will be some 10 times faster[2] as a RasPi, have much faster storage available (SATA3 or NVMe versus… USB2), much faster I/O (GBit LAN and GBit Wifi versus… USB2), and a lot of other benefits. (Like an integrated screen and battery and keyboard and …) It also won't need external hardware to communicate with other cluster members – that 10-port ethernet switch will need power, too.
One RasPi is relatively energy efficient; RasPi clusters… not so much.
> But really, I think the primary use case is cost.
Indeed.
[1] http://raspi.tv/2016/how-much-power-does-raspberry-pi3b-use-... , see the numbers for "Multi-threaded CPU Tests", which is the most applicable for server workloads
[2] Running that script manages ~9 runs/second on an i7-6700HQ, vs. ~0.9 run/second on a RPi3.