There are many cheaper options that run Armbian, which in my opinion seems to be a better maintained system that isn't constantly fucking with stuff just to do so.
For about $350, you can get a Beelink with a Ryzen 7. Much faster than a Pi.
Yes, there are a lot of options. You can probably find older machines like 6th-8th gen iCore equivalents for next to nothing if you ask around. Plenty of horsepower for any home server task you could throw at it save the most demanding video work.
Yeah at this cost, I don't really see why you'd get a pi. Power savings maybe?