This is correct, yes, but one must consider the Platform Baseline. The C612 Chipset and Dual FIVR Controllers consume significant Power regardless of Load. My own Measurements with a Supermicro X10DRi show 135W at Idle with minimal Configuration, and this is in Germany where we pay €0.35/kWh currently. The Economic Case for E5 v4 is very poor here unless you have Free Photovoltaic Generation.
The Ryzen 9 5950X with its single I/O Die and efficient Fabric is simply superior for continuous Operation. However I maintain that the PCIe Limitation is a genuine Architectural Constraint that may force premature Replacement if Expansion Needs grow.