The 8700G should be seen as a successor of that I think.
Enough to play a huge amount of games nicely under 1080p.
But in a certain way at the lowest end of desktop gaming.
Still better then the low-mid range of gaming on a laptop, tho.
But for a lot of people that is exactly the right balance of what they get to what they pay. Weather that's because they don't have a lot money or they don't do a lot gaming and don't want to wast money.
The main "problem" the 8700G might run into is I guess that the cost of AM5 motherboards and RAM.
Also AMD (and I think Intel, too) have in recent years slowly worked to take advantage of integrated graphics even if you have also dedicated graphics (of the same vendor) if that sees some more improvements the 8700G could also become interesting in some use-case you wouldn't expect today. We will see.