I would think it's more secure than clientAuth certs because if an attacker gets a misissued cert they'd have to actually execute a MitM attack to use it. In contrast, with a misissued clientAuth cert they can just connect to the server and present it.
Another fun fact: the Mozilla root store, which I'd guess the vast majority of XMPP servers are using as their trust store, has ZERO rules governing clientAuth issuance[1]. CAs are allowed to issue clientAuth-only certificates under a technically-constrained non-TLS sub CA to anyone they want without any validation (as long as the check clears ;-). It has never been secure to accept the clientAuth EKU when using the Mozilla root store.
[1] https://www.mozilla.org/en-US/about/governance/policies/secu...