All true I guess, but...
1) "Not the most capable server" is much better than "not a server", which is what you get if you don't have CPUs.
2) "Four generations behind the best Intel/AMD" is pretty good. It's not pocket calculators. It's plenty enough for most tasks, especially if they are parallelizable (just use more of them), as many modern workloads are.
3) It's money that goes into Loongson's coffers, and which they'll use to make better CPUs in the future.
4) It's "four generations behind" now, but what will it be a few years from now? Catching up is always much easier than innovating.
Overall, being dismissive about this sounds like short-term thinking to me.