It also means it performs like a 10 year old server CPU, so those 28 threads are not exactly worth a lot. The geekbench results, for whatever value those are worth, are very mediocre in the context of anything remotely modern: https://browser.geekbench.com/processors/intel-xeon-e5-2690-...
Like a modern 12-thread 9600x runs absolute circles around it https://browser.geekbench.com/processors/amd-ryzen-5-9600x
For dedicated build boxes that crunch through lots of sources (whole distributions, AOSP) but do run seldomly, getting your hands on lots of Cores and RAM very cheaply can still trump buying newer CPUs with better perf/watt but higher cost.
You don't have to self-host everything in your basement, and you don't have to hand your entire digital life to Google or Apple either. Mail, CalDAV/CardDAV, Immich, Nextcloud, OpenCloud, OpenTalk, web hosting, Kubernetes, simple VMs.. whatever ... fully managed, run by local or independent providers or by the company behind projects, without Big Tech lock-in. If chosen wisely, you can migrate, take over, or bring it in-house when you want. Just spend a few bucks and do some company research. Same as you would when choosing craftsmen, lawyers or something else.
For example, that's actually how we operate as a company for some of our customers and even a few single persons: we provide SaaS AND setup documentation. Customers can transparently take over at any time. We even help separate domains, credentials, and administration from us. Convenience without captivity. I am sure there are hundreds of shops like ours, providing comparable services for people in their wider neighborhood.
As for Apple fans, they specifically seek the vertical integration.