As far as I know, the A380 is the cheapest drop-in upgrade that can give you AV1 encode. That is worth something, to someone, somewhere, lol. I'm also pleased to see that the idle power on this card is much improved; last I heard, it was hanging out in the 40-watt range, along with all the rest of the Arc offerings. W1zzard now has it at about 13 W. Maybe this slot-powered variant is better than previous A380s? Or maybe I'm misremembering. Either way, if you want power efficient hardware video acceleration, you're still best off with an Intel IGP of recent-ish vintage, unless you absolutely require AV1 encode, which doesn't seem very likely.
I think this card has a bigger audience than the RTX 3050 6GB, which is much stronger at gaming, but not stronger enough to be a good buy at $180--but that is faint praise. The fan curve issue highlighted by AusWolf doesn't help matters. I'm rooting for Intel's GPU division; they've made great strides, but first-gen Arc has too many rough edges to earn a solid rec at any price point, and for almost any use case. You have to be the sort of person who wants to tinker. Oddly, that criticism is probably most relevant for this lowest-of-low-end card, which is so very close to an ideal general-purpose display-out product. I can put up with fan noise on a $500 GPU running demanding games. On this card, and especially at idle, it's unforgiveable.