Re: Let's recall the other definition of MIPS
Twice as fast as a raspberry Pi? Clocked at 2GHz?
Not really. As others have mentioned, it depends what you're doing with it and what else the silicon does. I'm sure if Broadcom were still developing silicon they might have had a chance at the contract because the RPi CPUs are such a known quantity. But they're not and options for volumes of server chips are limited.
But the workload for these chips is likely to be anything running on the lambda service. These are low latency, low workload, low power services where ARM makes more sense than x86_64.