Most macbooks dont need high memory bandwidth, most users are using their macs for word processing, excel and vscode.
Imagine 5 years from now people have built whole stacks on that foundation. And then competing laptops need to ship that compute to the cloud, with all of the unsolvable problems that come with that. Privacy, service costs (ads?), latency, reliability.
They instead position midrange products from 1-2 gens ago as their entry level which isn’t quite as cheap but is usually also much more pleasant to use than the usual bargain basement stuff.
Good for your niche case, the other 99.8% still only does web and low performance desktop applications (which includes IDEs)
I expanded it to 32 GB RAM, 3 TB SSD but it's still a i7 4xxx with 1666 MHz RAM. And yet it's OK for Ruby, Python, Node, PostgreSQL, docker. I don't feel the need to upgrade. I will when I'll get a major failure and no spare parts to fix it.
So yes, low end Macs are probably good for nearly everything.