I never understood why someone just didn't build a Ethernet over TB-4 switch with USB-C cables instead of RJ45/SFP+ ports. Yes you'd be limited to 1 to 2 meters of cable length, but you could still add a proper ethernet port as a backhaul.
Yes it might not be as fast, but in the end, all SATA, TB4, and ethernet does is push bits over a wire.