This particular chip is very slow, so definitely not. However Sophgo are going to switch the cores to using SiFive P670 in the next iteration (SG2380) and those cores have much faster single thread performance.
It's about the same as the AWS Graviton 1 that went into their data centres in 2019, except it's got 64 cores while the Graviton has 16.
On tasks that can use all 64 cores (building software, web serving, and yes HPC) it can have about the same total performance as a current generation 16 core x86 that costs about the same.
SG2042 itself is T-HEAD C920 design which is a mess, and might not be even called a RISC-V compliant design. We are kinda stuck it existing and being used in various chips. There are other design issues discovered IIRC (atomic might not work properly [at least on the kernel side workarounds required]; floating point failures in glibc testsuite because FP not being compliant). SG2044 is scheduled for the next year (2024). Not many details are known: 64 cores, 8 DDR controller, 3x memory bandwidth, vector v1.0 support, 2x PCIe (unknown what that means, Gen3 -> Gen4? More lanes?). The cores are unknown, but SG2038 is SiFive P670. T-HEAD has C908 that support vectors v1.0 (and solves some other issues), but that's a smaller core. Not a replacement for C910/C920.
https://www.sifive.com/press/sophgo-licenses-sifive-risc-v-p...