I really struggle to see where this fits in to most use cases. The appeal of the Pi back in the first iterations was being a relatively cheap linux computer with GPIO.
The original vision IIRC was to provide a cheap computer for students in low-income families. You could plug into your TV at home and start learning.
Then the hobby community got wind of it and proceeded to buy out all the stock on every release (myself included, I still have one of every first 3 versions sitting in my cabinet)
People have been saying this for years, yet Raspberry Pis just keep on selling with no trouble.
You should really look at the Pi Zero 2 W. Similar capabilities to the 3B for <$20. The Pico 2 is also cheap and very capable if you don't actually need Linux. Most projects don't need a Pi 5.
They're relatively common in industrial applications now because they have really good software support and great long-term availability.
It's useful if you need GPIO but not $350 useful. Nowadays you can get used office mini PCs with a 10th gen Intel and 16GB RAM for like $200 and they'll come with an SSD. No idea why anyone would buy an expensive Pi.
This (the 16GB version) should not fit into most use cases. You’re buying an expensive RAM chip with a Pi attached.
The cheaper 4GB or even 1GB versions ($50 for the latter) are what most people should be looking at for their projects.