- The project was obviously started before the Mac mini was available
- Linux guests are still rather experimental and might not behave the same way as a real machine.
- 32-bit Arm applications do not run on the M1, it is a 64-bit-only CPU
- Nested virtualization is said to not work yet under MacOS, so you cannot run KVM guests inside of the Linux guest
- If you need to spin up lots OS instances simultaneously to test various setups and each of them need 8GB, you can have at most 2 instances on a Mac.
For most use cases, none of those apply, so you would be better off with a Mac, a Graviton instance or an off-the-shelf PC.
You can use it as a USB-hub though as I suppose you get 2 USB-ports pr. raspberry pi.
Serving web pages. A single Raspberry Pi 4 can manage 943 Mbit on its Gigabit port.
You might be able to buy (expensive) 40 Gigabit network adapters for the two TB4 ports of the Mac Mini. You'd still be slower.
Or a kiosk with 14 HDMI displays.