Yes, of course, high performance graphics is better closer to the display hardware.

But I've felt that the terminology of server side rendering w.r.t. the web seems to imply something else in my mind. I agree with your comment but, to me, nothing actually gets rendered on the server - the code TO render in the client gets constructed on the server, e.g. a web page, partial page etc and sent to the client to be interpreted for display in a graphical environment (the browser).

Splitting hairs, technically a bitmap graphic could be said to be rendered remotely and it's display is simply a transfer function - sorry, I realise I'm been overly pedantic.