The CM4 uses the silicon from Pi 4, which was never really a fully-baked PCIe implementation, so I'll forgive them a little there. But it opened up a huge number of possibilities that I think will be realized on Pi 5 (and hopefully a CM5 eventually).
And regarding power consumption / efficiency, don't forget about the usefulness of a full Linux computer running at less than a watt (like the Zero 2 W); or with the Pi 5 you can use the watchdog timer to boot and shut down now, going from idle at 2-3W to power off at 0.01W if you need a remote 'edge' device.
But the hardware and efficiency were never the primary drivers for Pi. It's the fact you can buy one (well, sometimes...) and use it. You don't have to spend a few hours getting the right OS, figuring out the right tools to flash it reading sparse forum-based documentation...
Proprietary blobs aren't that bad with Broadcom...
It would be nice if it were higher voltage/lower amperage, but it works at least with their own power adapter through a few clever tricks.
For WPA3, it is what it is... most SBCs have 'middling at best' built-in WiFi, and while the driver support can improve, I typically stick to external or M.2 PCIe WiFi chips if I need something more robust. (Hopefully a WiFi HAT will make its way to the market with Intel AX210 or something like that).
https://hackaday.com/2019/07/16/exploring-the-raspberry-pi-4...