The management modules are often considerably more powerful than what is necessarily exposed via IPMI -- A number of SuperMicro's IPMI modules have more than a few megabytes of flash, and do run an embedded version of Linux.
The module's capabilities are not all that different from OpenWRT; they run Linux, have a network connection, provide a web UI including a 'VNC' server for the VGA console, run (IIRC) net-snmp ...
If I wanted to obscure my intentions, I definitely would leverage such non-obvious embedded systems.