The SoC is extremely powerful compared to a Framework 16. It's 256-bit LPDDR5X-8000 instead of 128 bit DDR5 5600. 40 graphics CUs instead of 12. It uses full Zen CCDs with 16 cores, tons of L3, and extra cache on the IO die, instead of the reduced-cache laptop parts. Look up Phoronix benchmarks: it's more than double the performance in many workloads.

I'd kill for this thing on an ITX motherboard, in my tower desktop. There is just nothing comparible with so much graphics power with like 96GB of addressible VRAM, or so much CPU bandwidth unless you splurge on Threadripper or EPYC (and sacrifice power efficiency and ST performance). There is nothing I can buy under $5K that's even close.

Hence it's backordered like crazy.

If you don't need the performance or just want to game on a tower, it doesn't make sense, no.