As a comparsion a quick build on PCPartPicker: Xeon E5 22 core, Radeon RX 6900 XT, case, power supply, 64 gb of ram, motherboard, 1TB SSD and CPU cooler. Comes in at just shy of $5,000
That CPU isn't as powerful as the one the M1 Ultra beat in their specs, but should be about the same GPU as they compared and beat. If the benchmarks are to be believed.... the $4,000 Mac Studio will be an absolute powerhouse in the price/performance/power market for quite some amount of time.
Normally I'd make some snarky remark about Apple Tax, but in this case they look to have the PC hardware equivalent very well and truly beat on cost. For now.