Yes but the benchmarks listed above are mostly done on an 8x setup at $1400 each so ca. $12k and the performance achieved is a fraction of what a $30k H100 will do.
The benchmarks on GitHub use the N300 which has 2 chips per board with 4 boards in the system -- that's the "2x4" they refer to -- with each board being 1400 USD. So that's only $5.6k to match the system they sell, versus the H100 which is north of $30k. Well, OK, at an equivalent bs=32 it's only 4x or 5x worse than the H100 according to the benchmarks in this thread (500t/s vs ~2000t/s), but as you note that's not what people practically use for batch sizes, and the power usage is a factor of 4x worse overall too. So, at an impractical batch size it only uses 4x more power for about 1/4th the total tokens/second. Given the pricing you could in theory buy 4x as many cards while still being cheaper than an H100, but that totally ignores operational and other scaling costs. Apparently Tenstorrent is still on 12nm for Wormhole, too.
Anyway, I overall agree with you it's not as amazing as people here might make it sound. I think people here are viewing it with rose tints because practically speaking nobody else actually sells B2C accelerator hardware at a reasonable cost, and has actual availability which is what they want. They look at Tenstorrent and see a "Buy now" form as a way to spend $5k USD and get 96GB of GDDR6 and a toolchain that's both open-source and not-nvidia, or whatever. This forum is going to be particularly sensitive to things like that.
The actual hardware I think still has a ways to go, but hopefully they can scale it up in a bunch of ways and people can at least buy functionally usable cards with a software stack that works on them all. So, they're doing better than a lot of competitors in those ways, I guess...
Don't they cost 10x as much, or more?