It's single-threaded, it's much slower compared to languages like Go, Java, etc, and for any app that performance needs to be a consideration, Node would just never be my first choice.

If I'm building a blog, then maybe it makes sense, but for high profile web apps/infra I just don't understand the appeal beyond using similar tooling and having the learning curve be the same (e.g. at least on the surface your UI and backend engineers can theoretically be the same).

I guess it generally depends on what you are building, but I tend to prefer something a bit beefier. I also love Go, so I may have a bias there, though the performance bits are data-driven, not subjective.