Depending on what you want to experiment with, a Mac Mini might be far more cost-productive for most people wanting to play with software and servers.
We can assume the 500 is meant more as a nostalgia 'one-computer-for-every-child' design more so than a powerful work house for developers.
this device would make a very practical workstation for developing Raspbery Pi software for little embedded RPi projects.
That includes all the people setting up home labs for their own learning. An M1 is about $250 refurbished under Amazon's protection program. If you intend to use this as a hybrid device, which many frugal people do, then you'll also likely be using this as a desktop device connected to a monitor. The cost of electricity will rival your purchase in a year.
If you're gonna buy a throwaway computer for a child to experiment with, IMO a used Mac Mini delivers unbelievable price efficiency as a general-purpose computer. Use it as a server, use it for programming, use it for homework.