Restart on power loss in the bios is usually the right way if the machine is a server that you know you always want it to be on or trying.
It only gets complicated when you have say, a full backup clone of that machine that you actually want to be a cold spare not a hot spare. So it exists, is plugged in, but turned off, and you want it to stay off unless you explicitly turn it on because it would conflict with the primary, and yet want to be able to do that remotely or even automatically but by some more complex logic than merely the fact that power went from off to on.
That's not super common, but it would take something weird like that to not want simple bios always-on.
Usually it should be easy enough to have a machine always try to turn on, and decide for itself that it should shut back down.
Yes, it is.