The Pi isn't great value, but honestly, I'm finding it hard to find a better trade-off between price, performance and software support right now than the compute modules for embedded projects where you can afford to spin a custom PCB. Especially for low-ish volume or prototype stuff.
I also love the compute modules for their size. Stick one on a nano base board and they’re half the size of a Pi 5. TBH the standard Pis are a bit frustrating with all of the IO. I do not believe the average purchaser is using one as a PC replacement and wants 4 USB ports and 2 HDMI ports. I’ve never seen one in use like that. They are mostly servers or driving a single display without any user input.