If load becomes too important for the SBC or close to capacity, wake the server, and perform a handover once it's up. You can either hold the packets and use the SBC as a proxy, or change your router's config to point to the newly awakened server (alternatively, just exchange IP or MAC addresses). With a bit of magic to avoid closing existing connections (I believe home ISP routers should keep NAT connections open if a port forward is changed), it would work. Obviously it's even easier with a proper load balancer.
edit: actually even a router might be able to handle low loads
There seems to be surprisingly little interest in this (closest I found was https://github.com/kubernetes/kubernetes/issues/89271 ).
So yeah, it's still wasted power and computation in my opinion. "Ready and waiting" should not take 100W per server, but be closer to 0.1W (WoL), or lower if managing state from a central node. I guess it's not worth optimizing for most people, and big cloud probably does something similar already.
In a way, it's a bit like big.LITTLE with additional latency: small, power-efficient vs big, fast, inefficient for small loads.
Anyway, it would be waste even if you couldn't save it at all. "Waste" is simply a name for things we consume but don't actually use. All industries use that term.