The 2019 Mac Pro was effectively the same price as the equivalent configuration Lenovo P-Series, or HP-Z.
"Equivalent configuration" is doing a lot of work in that claim.
The 2019 Mac Pro is a specific model with a specific logic board, a specific case, a specific power supply and a choice of about 4 Xeon W3000-series plug-compatible processors.
P-Series/Z-Series are Lenovo/HPs catch all name for "pro" computers and currently include everything from "laptop workstations" through small-form-factor desktops to
proper rackmount systems (i.e. not just a desktop tower turned on its side). There are dozens of completely different base models to choose from, before you get to the lost of cpu/gpu/ram options that are available for that model. To find a P/Z series with an "equivalent configuration" you'd have had to look at the top of the desktop range and find a base model with Xeon W3000 processors, 8 PCIe slots with an unusually high proportion of 8 and 16-lane slots and sockets for at least 1.5TB of RAM. Compared to a ~$3000 basic Xeon tower "P/Z series" that would mean a different motherboard, more expensive base CPU, bigger power supply and probably a different case/cooling system.
Yet, until you started
using all of that extra PCIe and RAM expansion, you wouldn't see any performance boost and that $3000 system would
still have a couple of free PCie slots, hard drive bays, M.2 slots and space for maybe 256GB or 512GB of RAM.
That's part of why your "white van" metaphor doesn't work for the 2019 Mac Pro (apart from the nonsense of ignoring price and size) - it was
not a blank canvas, Apple have already steered you down a particular path by choosing a single Xeon-W3000 as the processor, ruling out both cheaper Xeon/Core/AMD options and
more powerful Scalable Xeon multi CPU options.
Which is really Apple's problem with the 2019-style Mac Pro - they're competing with the PC market that offers something far closer to your "blank canvas" where you can choose from a vast number of permutations of case, motherboard, processor, GPU, storage... even if you can't build your own PC there are many companies that will build them to order, and while compatibility problems do exist, every PC component manufacturer has to offer Windows support. (Even with Hackintosh - or Macs that
did have PCIe slots - you had to carefully pick-and-choose MacOS-compatible components).
Whatever Apple do, unless they radically change their business model, Apple would be offering a one-size-fits-all "shell" with a limited range of CPU and GPU options.
The mac Pro had ECC RAM. If you need ECC RAM the i7's performance is irrelevant.
The $5000 iMac Pro had ECC RAM and comparable performance & better GPU c.f. the $6000 base 2019 MP even
before Apple bumped the base iMP to 10 core.
Most of those $2000-$3000 Xeon towers also had ECC RAM (since that was a major reason for paying a premium for Xeon) so that only really eliminates the much cheaper core-i options.
"Everyone is gaming on handheld systems"
Straw man - I never said that. They
are however growing increasingly popular & reaching the "good enough for most" point where they can deliver near-photorealistic 3D games (maybe at a slightly lower frame rate and without some gameplay-irrelevant bells and whistles you'd get with a water cooled GPU the size of Manhatten).
I would bet the Ultra Studios don't sell any better than the 2019 Mac Pros. We've seen once, directly what happened when Apple offered a compact "Pro" machine at the same time as the slotbox with the same specs and same price - The G4 cube was a sales and technical disaster, because no one valued the small size when they had to give up the expansion capabilities.
Apart from the absurdity of digging back to 2001 for an example (I mean, its not like the PC market has changed at all since then) Apple have been successfully selling compact, non-expandable Mac Minis alongside "slotboxes" since 2005.
The G4 cube was a flop because it was overpriced and had widely publicised problem with developing cracks (kiss of death for a machine sold partly on its looks). Those are the two principle reasons you'll see cited in any account of its failure. I don't recall it
ever being pitched as a "pro" machine - part of the pricing problem was that it was pitched more as a home machine in competition with the (cheaper) iMac.
The G4 Mac Mini was basically the same concept, better implemented, at a more reasonable price and sold successfully alongside the G5 tower. The Intel Mini sold alongside the "classic" Cheesegrater. It's nadir was probably 2014-2018 when Apple
weren't making slotboxes and desperately trying to push the trashcan and iMacs as "pro" solutions - and dumped the higher-end Mini models that had been available pre-2014.
(It's also proven the perfect machine for developers who just need a Mac for MacOS/OSX builds and user testing),
Meanwhile, the Ultra Studio is Apple's most powerful current system and costs accordingly - but Apple also now have a whole range of headless desktops including the M4 Pro Mini and the M4 Max Studio which (whether or not they meet your personal "Mac Pro" criteria) are all suitable for serious creative/development work.
The systems they use to develop the games don't need to be the devices people play games on. Apple Arcade titles aren't actually made on Apple computers. They're made on Windows PCs, overwhelmingly.
So how does that support the need for a Mac Pro? The Mac is not going to suddenly change into an AAA gaming platform, and if studios
do want to develop for Mac they can do it on PCs. Even if there was a suitable Mac tower, studios would
still kit themselves out with cheap Windows PCs built from commodity components - and maybe a couple of Minis, Macbooks and iDevices for testing. The main case
for more gaming on Apple Silicon is the speed-vs-power of Apple Silicon GPUs in MacBooks and iPads as delivery platforms. A "Mac Pro" with discrete AMD/NVIDIA GPUs has nothing unique going for it as either a delivery or development platform for games.