For a switch, probably not. But it does open up a bunch of possibilities for some constrained environments.
I would use such a thing combined with a few other services aside from pure network switching. Off the top of my head, I'm thinking running pi-hole and Home Assistant.
Why? Because I live in a studio apartment, and it would be a single, small and quiet box. I'm currently doing this on a mini-ITX J3455, and while the setup is broadly OK, I'd love to be able to remove the switch I have lying around. Also, the integrated Realtek controllers suck, and I can't replace them with anything better (there's no PCIe port).
Of course, your other points absolutely matter, and are the reason why I'm still looking around for quiet x86 machines that I could expand.