You have to understand the priorities of the rack server market.
#1 is dependability. It needs to keep running no matter what. Evenrthing is built around overbuilding it. More cooling, dual CPUs, Dual power supplies, lots of drives in RAID…
#2 is size. Colo space is expensive! So keep it small. So everything is densely packed, which is bad for airflow. And you get stacked small fans running at the speed of sound.
#3 is performance. Yeah, you would think it was first, but it ain’t. But that means 10k and 12k spinning drives. These are loud and noisy!
Way down the list is power… When you consider the cost of the hardware new, the cost of the colo space, and the cost of the people maintaining it, the power cost is next to nothing. The only thing less important than power consumption is sound which is not even on the list…
Now, compare that with workstations. They have a lot of the same components like Xenon CPUs, lots of ram, raid… But they sit on a desk, so noise, heat and power are a real concern. And they are often overlooked in the used and refurb market. So for less money, you get server like components and performance, in a quieter and more power friendly form factor.
Depends on how you buy it. If you keep power consumption at the top of mind, and you stay about 3 years back in the early refresh cycle, you can do very well.