Yes but ARM is great but compared to server hardware is it shit when it comes to performance and reliability. If you come from server hardware and you really max it out you're going to have a poor experience.

Also I personally like to avoid the Raspberry Pi and their stuff as much as possible. They've done good things for the community however they've some predatory tactics and shenanigans that aren't cool. Here a few examples of what people usually fail to see:

• Requires a special tool to flash. In the past it was all about getting a image and using etcher, dd or wtv to flash it into a card, now they're pushing people to use Raspberry Pi Imager. Without it you won't be able to easily disable telemetry and/or login via network out of the box;
• Includes telemetry;
• No alternative open Debian based OS such as Armbian (only the Ubuntu variant);
• Raspberry Pi 5 finally has PCI. But instead of doing what was right they decided to include some proprietary bullshit connector that requires yet another board made by them. For those who are unware other SBC manufacturers simply include a standard PCI slot OR a standard NVME M2 slot. Both great option as hardware for them is common and cheap;
• It is overpriced and behind times.

For what's worth the NanoPi M4 released in 2018 with a RK3399 already had a PCI interface, 4GB of RAM and whatnot and was cheaper than the Raspberry Pi 3 Model B+ from the same year that had Ethernet shared with the USB bus.

If you don't want those big brands (I only suggested them because they're cheap second hand) build something yourself on consumer hardware or pick a Chinese brand.

Those big brands are cheap though, for 100€ you can get an HP Mini with an i5 8th gen + 16GB of ram + 256GB NVME that obviously has a case, a LOT of I/O, PCI (m2) comes with a power adapter and more importantly it outperforms a RPi5 in all possible ways. Note that the RPi5 8GB of ram will cost you 80€ + case + power adapter + bullshit pci adapter + sd card + whatever else money grab.

Side not on alternative brands, HP mini units are reliable the BIOS is good and things work. Now the trendy MINISFORUM is cool however their BIOS come out of the factory with wired bugs and the hardware isn't as reliable - missing ESD protection on USB in some models and whatnot.