There are things that real server hardware does fasger/better, but there is no reason why old gaming hardware can’t be a fileserver, router, firewall, gateway, etc… It’ll do Just Fine ™ at it for home use.

My firewall (opnsense) does this… With very little configuration. Using UnboundDNS with its block list features makes filtering most ads out rather easy.

Without a banana for scale, or at least a potato, it’s impossible to tell if this is an air tag or a salad spinner or a spaghetti containment and distribution mechanism.