It also only has 24 PCIe lanes connected to the processor, which are used by the x16 slot, one of the x4-in-x8 slots, and the M.2 slot. This means the MCIO (a place to plug in two more NVMe drives) is connected to the PCH.
You can't really use it as a storage platform, as the only way to add an HBA/RAID/NIC is the x16 slot (unless you can live with x4 from one of the other slots). It could make a decent compute node, but you'd still need to use that x16 slot for a NIC to connect to storage (and other compute nodes). I would rather have a pair of PCIe 5.0x8 slots instead of an x16 and an PCIe 4.0x4 from the PCH.
OTOH, this is the kind of motherboard where somebody could make a fortune from just home lab users by making a PCIe 5.0x16 card with a PCIe switch and 16 NVMe connectors. You could then run 16 PCIe 3.0 NVMe drives at full speed.